themalaysianinsider.com, By Baradan Kuppusamy
All is not well with MIED, says Subramaniam (centre). — file pic
LUMPUR, Jan 16 — The controversy-hit Maju Institute of Education
Development (MIED) will hold its first annual general meeting (AGM)
since its founding 32 years ago on Monday, but founder member Datuk S.
Subramaniam has refused to attend.
He is also urging the 30-odd members of the MIED not to attend.
The reason, he said, is because the MIED is under investigation by
both the Securities Commission of Malaysia and the MACC for various
He said since these and other matters were still unresolved, it was
pointless for the MIED to hold an AGM — especially when members are in
the dark over the alleged irregularities.
Among the matters being investigated, according to Subramaniam, is
1.29 million TNB shares that the government allocated to the MIC.
The shares were later transferred to the MIED to be held in trust,
with an agreement that 50 per cent of the proceeds from the sale of the
shares to be donated to the MIED.
Subramaniam said the institute’s audited accounts that were forwarded to him do not state what happened to these TNB shares.
“I am in the dark,” he said.
According to Subramaniam, the MIED had also bought a watch worth
RM113, 000 in 2005. “I don’t understand why MIED bought this expensive
watch and for whom and who approved it.”
He also said the MIED accounts show that various amounts, ranging
from RM42,000 to RM45,000, were paid to MIED trustees as allowances.
“To my knowledge, the MIED rules bar the giving or receiving of
allowances. This matter too has to be cleared up before an AGM can be
held,” Subramaniam said.
The MIED and its chairman, Datuk Seri s. Samy Vellu has come under
severe criticism ever since the MIC president announced last year that
he intends to take the MIED, AIMST University and other MIC projects he
had started, with him when he retires.
He had said he plans to bring these entities under an umbrella NGO to be headed by him.
Samy Vellu set off an uproar after he said these entities did not
belong to the MIC, prompting Subramaniam to announce that he would do
anything necessary to stop the “hijacking” of the MIED, which owns the
RM1 billion AIMST University.
Their ongoing war over the MIED has prompted numerous shocking
revelations, including the failure of Samy Vellu and former MIED CEO
Chitrakalla Vasu to submit annual accounts for several years, besides
Several directors have resigned and others are contemplating the same.
Some MIED members are also accused of dipping their fingers in the MIED honey pot.
Tan Sri KS Nijhar, who is “overseeing and cleaning up MIED” for Samy
Vellu, said when contacted today that the “to his knowledge” the MIED
is not under any investigation by either MACC or the Securities
“We are working with the commission to clear up various issues
afflicting MIED and the AGM on Monday is [proceeding] with [the] full
knowledge and approval of the commission,” he told The Malaysian
He said Monday’s meeting is to clear up annual accounts for the
years 2004-2006 and is in keeping with instructions from the commission.
He urged members to attend the AGM and raise any queries as is their right.
“Answers will be given,” he added.