'Maika injunction is to protect shareholders'

K Kabilan

Modified 27 Jul 2009, 7:17 am

The only reason Koperasi Nesa Pelbagai Bhd is not withdrawing its injunction against MIC's Maika Holdings from selling its cash cow insurance company is to protect the interest of the shareholders of the investment arm.

The injunction is still in place to ensure that Maika shareholders, especially the minority shareholders, are not cheated of their money, said the cooperative's chairperson and former MIC deputy president S Subramaniam today.

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