MAIKA'S SAVIOURS:THE TRUSTEES
Tan Sri G.Gnanalingam
Tan Sri Ir. Kunasingam
A/L V. Sittampalam
Datuk R. Karunakaran
The Maika rescue was initiated via a trust GT Resoruces Sdn Bhd, and the trustees were the following persons :
Gnanalingam said GT Resources, run by a board of trustees chaired by him and comprising Datuk Kuna Sithampalan, Bank Negara and Petronas director Datuk N. Sadhasivan, ex-Malaysian Industrial Development Authority director-general Datuk R. Karunakaran and special officer in the Prime Minister's Department Ravin Ponniah, had already obtained 12 per cent of the shares held by the Maika management.
(Maika payout by July 31;23 April 2010New Straits Times)
This morning Sarawak Report has shown how some RM 145 Million, being the proceeds from the sale of Maika's then primary asset, its stake in Oriental Assurance Capital was paid over by Maika to Gnanalingam's private company , Pembinaan Redzai Sdn Bhd.
That money needs to be clawed back, and the clawback should include any profits made by the trustees from the Tune Insurance IPO.