The MCA was told to explain the status of a party-linked investment company in which a group of shareholders claimed they received only one dividend since the fund was established two decades ago.

Irate shareholders said Selangor-based company Aik Hua Holdings Berhad - set up on May 13, 1981 - paid its first and only dividend of RM30 in 1986 for their RM1,000 investment.

However, some of the now elderly investors claimed they did not received any dividend at all.

When it was launched, Aik Hua had offered 49,910,000 shares priced at RM1 each. While it was unclear how much the company had raised, Aik Hua said its target was RM50 million.

The board of directors was led by then MCA Selangor treasurer Yap Peng@Yap Piang Tau while nine other board members are state committee members including now Serdang MP Yap Pian Hon.

Aik Hua succeeded to secure the support from the Chinese community, mostly MCA members.

According to the shareholders however, the 23-year-old company had held only three annual general assemblies. They were puzzled as to the present status of the company as well as their investment.

"We were convinced that the consolidate small capital could make big business, however after 20 years, we didn't see any of it. We are already old, where is our money? They owe us an explanation," said Siow Soon Shieh ( left ), a retired school teacher from Seremban when met.

He had invested RM1,000 and stressed the amount was a huge sum two decades ago.

"No dividend, no annual report, no letter, we don't know what happen to the company," he added.

Seventy-four-year-old Vooi Oi Yook ( right ) said she was grief-stricken because her RM1,000 investment was from the savings of her husband and son.

"As a Chinese Malaysian, I was confident of MCA. Now I just want to get my money back and I will never make any investment again," she lamented.

The duo were among the 15 shareholders met during a press conference called by DAP national publicity chief Ronnie Liu at his party headquarters this morning.

Protest planned

Liu said he has received 64 similar complaints from Aik Hua shareholders to date after his first press conference two weeks ago and among them, the highest investment was RM10,000.

"At my first press conference, I had demanded MCA to let us know in one week exactly how many shareholders the company has and asked them to explain the (company's) status. But they had remained silence.

He said DAP will help the shareholders to organise a protest at the MCA headquarters should there be no response in seven days.

The shareholders are also mulling over taking legal action since they claimed Aik Hua has breached several provisions under the Companies Act 1965, such as failure to furnish an annual financial reports, hold annual general assembly and lodge annual returns every year.

The DAP also planned to lodge a complaint to the Registrar of Companies on the same matter.

"The MCA is responsible. Every Aik Hua directors and the current MCA leaders need to explain where are the tens of millions invested by the people? If they are unable to run Aik Hua, then it should terminate the company's operation and return the money to the shareholders," Liu, who is also DAP Selangor chief stressed.

When contacted later, Yap said he was unclear about the present situation of the company.

"I'm not a member of the board," he told malaysiakini despite that he was listed by Aik Hua as part of its board.

MCA president and the party's Selangor state chief Ong Ka Ting could not be reached for comment.

However, MCA central committee member Donald Lim Siang Cai was quoted in the press earlier as saying that he was unaware of the company since he is a "new generation" leader while the company was set up by the party veterans.

The MCA Youth chief Ong Tee Keat had previously questioned the party on the management of it another party-linked fund - the Chang Ming Thien Foundation - and it was among the reasons which led to a disciplinary action against him later.

This is not the first time that questions are raised over the health of the investment companies established by ruling political parties.

Recently, shareholders of Maika Holdings - an investment company linked to Indian-based MIC - have kicked up a furore over the status of their funds.