The dismal performance of MCA in the last general election is there for all to see. Of the 40 parliamentary seats contested under MCA banner, 15 were won. Worse, where 90 state seats were filed, only 31 made it. The blow to the party ego was sufficiently big that, Ong Ka Ting, the party president then, saw it fit to take the brunt himself and declined a post in the cabinet.

But the Waterloo was not confined to MCA alone. The BN coalition, to which MCA is a member, lost their two- thirds majority in the parliament, and along with it lost five of the state governments to opposition (Kelantan, Kedah, Penang, Selangor, and Perak).

When the baton was passed from Ong Ka Ting to Ong Tee Keat as new president in October 2008, Tee Keat wasted no time to announce that among the many issues confronting the survival of the party, PKFZ was deemed the most crucial. Under his direction, Port Klang Authority set up an enquiry to investigate the cost over- run of PKFZ. So far four persons have been charged in court. The case is on- going with the public crying foul as they felt that somehow big guns were let off the hocks.

Kong took over the transport ministry from Tee Keat on June 7 when the latter lost to Chua Soi Lek in the last party presidential election held in March 2010. At the handing over ceremony, Kong shocked everyone by announcing that no further investigation into PKFZ is necessary.

Undeterred, opposition leader Lim Kit Siang raised the issue in parliament on June 9, 2010. Lim also asked for the follow- up action of the parliament’s public account committee (PAC) as the said committee has its own investigation into PKFZ operation.

From the finding, PAC felt that Chan Kong Choy should be held responsible for illegally issuing of guarantee letters to Kuala Dimensi Sdn Bhd (the turn- key contractor of PKFZ), which relied on them to raise bonds worth billion of ringgit.

MCA is in big trouble. By Chua Soi Lek’s (the serving MCA president) own admission, only 30% Chinese voters supported the party, a fact widely accepted as evidence from the result of Hulu Selangor by- election held in April 2010. What should MCA do?

Three options are possible:

i) the party may persuade UMNO- led BN coalition to bring the culprits to book (CKC included); or

ii) failing which the party takes its own initiatives to restore party credibility; or

iii) do nothing as minister Kong has announced.

To expect the Umno- led BN coalition to bring the culprits (the big fish) to book is a tall order. After Mahathir’s 22 years of rule, the party no longer behaves the way it used to.

Not to do anything may well mean a total defeat of MCA in the 13th general election. So a giant Waterloo is looming in the distance. But all is not lost to MCA. There is still a dim light at the end of the tunnel. Let us argue it as a classic case of principle- agent problem. Collectively speaking as principle, the party can still hold Chan (may include Ling Liong Sik who issued a letter of guarantee to Kuala Dimensi too) responsible for his misconduct in the PKFZ fiasco, and hold him to account for the issuance of three illegal guarantee letters.

The two ex-transport ministers may be subjected to internal party enquiry base on the findings of PAC and Port Klang Authority. And if it deems fit; put it to vote at an extra general meeting. The worst case scenario is for both Ling and Chan to be sacked. Not that party members do not love Ling and Chan for their ‘past contributions’, just that they love MCA more.

In sum, MCA taking the bull by its horns is the most effective way to say you are serious, and that MCA does not condone corrupt practices. Pass this point, MCA can stand tall again to face voters in the 13 th general election irrespective of the stand of Umno and other component parties of the BN. MCA has nothing to lose but everything else to gain.