While controversial businessman Soh Chee Wen did not spill the beans as some might have hoped at a dinner hosted by the National Press Club last night, he did issue an ominous warning.

"If I have to take Ling down, I will do that, though I would want to avoid causing unnecessary problems," he told an audience of about 300 at Petaling Jaya Hilton Hotel.

The 42-year-old businessman, who recently returned to Malaysia after spending three years on the run from the law, was referring to his former political colleague, MCA president Dr Ling Liong Sik.

"I do not derive pleasure from pulling down old associates. If it so happens this is necessary, so be it," he said.

Soh also added that he was more a "victim of betrayal of trust and loyalty" than a "victim of circumstances".

Nevertheless, he said he was responsible for creating the circumstances which led to him being made "the most convenient scapegoat" by Ling, who is also transport minister.

"It was my fault. At the time of crisis, I was still reckless and over-geared in acquiring companies," said Soh.

Great leap forward

He recalled that he made a great leap forward in the stock market's bull run in the early 1990s when he found a niche in second board companies.

"I went into a wide gamut of businesses and formed strategic alliances with people from Hong Kong, Singapore, and of course the Ling family," he said.

He lamented that when times were good, the credit for success was given to someone else, but when the 1997 financial crisis erupted, he was forced to take the blame and appeared as the "pariah of MCA".

"Since May 1998, Ling had embarked on a personal crusade against me. He went to the party divisions nationwide to explain why I had to go. He desecrated whatever little credibility I had and put many of my friends into trouble."

Soh left the country in 1999 after he was charged with two offences in connection to defrauding a now defunct stockbroking firm of over RM500 million. A warrant of arrest was later issued.

Before leaving, Soh claimed he was making money for Ling's family and was grooming the MCA president's eldest son Hee Leong in the corporate world, in exchange for appointments into the party presidential council and central committee as well as numerous government projects.

On May 14, Soh returned to Malaysia to face his two charges at the Shah Alam sessions court. He claimed trial and is now out on a RM2 million bail.

'Revenge is up to God'

The charismatic businessman also stressed that he has no intention of returning to politics and revenge was the last thing on his mind.

However, he was quick to add, "Revenge is up to God. If God dictates it, so be it. Suffice to say that there are many Gods in Malaysia."

He said in the process of defending himself, he will "reveal names" if he was required to do so to help the authorities in their investigations.

Responding to a question from the floor, Soh denied that he had negotiated with the authorities on how to settle his court case prior to his return.

"There was discussion and preparation. The relevant authorities, namely the police and the Securities Commission were informed of the date of my return.

"But it was not kau tim ('settled' in Cantonese), or else my lawyers would not have spent two hours fighting for my bail," he said.

Line drawn

Asked if his return was pre-planned to oust Ling, he replied, "It's flattering to think that I have the effect to bring anyone down, much less the MCA president. But I am drawing a line on the sand, if someone crosses that line, I will fight back."

To another question, Soh conceded that his exposé of his previous business dealings would be embarrassing for the ruling Barisan Nasional coalition.

"In the process of public procedures, the truth will have to come out. I'm sure that Prime Minister (Dr Mahathir Mohamad), with his wisdom, will know that it is not aimed at BN.

"But even if a minister's future is at stake, I'm sure PM will do the right thing," he said.

Later Soh told reporters that he is still keeping his options open when asked if he would re-file his suit against Ling, Hee Leong and Hee Leong's wife for RM150 million which he claimed is owed to him.

The suit was set aside by the Kuala Lumpur High Court last year on grounds of technicalities.

Soh also said he was no saint but hoped the people, including his creditors, will give him a second chance now that he is back to face the music.

Law school dropout

Earlier at the talk, the young businessman was sharing with the audience his roller-coaster experiences in the business world.

At 24, the law school dropout made his first million in 1984 but lost everything and was served with a bankruptcy notice during the 1985 economic recession.

He made a comeback during the 1990s and was known to be aggressive in corporate acquisitions.

At the height of his success, it is believed that Soh was controlling more than half a dozen public-listed companies, both in Kuala Lumpur and Singapore.