A consortium led by prominent Chinese business leader Lim Guan Teik has offered to purchase MCA's stake in Nanyang Press Holdings today.

Lim's assistant Loh Leong Kong told malaysiakini that the proposal was submitted to MCA earlier today but declined to reveal any information regarding the proposal.

He said Lim and the key members of the consortium will hold a press conference next week to disclose details of the proposal to take over Nanyang Press which publishes major Chinese dailies Nanyang Siang Pau and China Press .

Lim, a well respected business leader in the Chinese community, is an economics graduate of the now defunct Chinese-language Nanyang University in Singapore.

He was once detained under the Preservation of Public Security Order Act (PPSO) in Singapore, which is similar to the Malaysia's Internal Security Act (ISA), for allegedly involving in 'radical activities'.

One of his fellow detainees then was former editor-in-chief of Utusan Melayu Said Zahari who has recently written a political memoir called Dark Clouds at Dawn .

Lim is currently the chairperson of Associated Chinese Chamber of Commerce and Industry of Malaysia and the chairperson for Muda Holdings which is a public-listed company involved in paper manufacturing.

He is also the chairperson of Unico Holdings which is a major shareholder company in Unico Desa Plantations, another public-listed company which is mostly involved in oil palm plantations.

Possible attempt

MCA took over Nanyang Press Holdings late last month in a controversial RM230 million deal through its investment arm Huaren Holdings.

The deal has sparked off strong objections from Chinese community as well as rank-and-file party members.

Last week, several Chinese organisations and opposition leaders protested against the possible attempt of Sarawakian tycoon Tiong Hew King to take over a major stake in Nanyang Press.

Tiong is the owner of Pemandangan Sinar, the rival media group of Nanyang Press which publishes Sin Chew Jit Poh and Guang Ming Daily .

Those who oppose the involvement of Tiong fear that the deal could create a monopoly of the Chinese newspaper market.

Earlier today, Ling also called for an extraordinary general meeting to enable the party delegates to decide, once and for all, what to do with the newly acquired newspaper company.