The logic of might prevailed over the might of logic at Maika Holding's annual general meeting (AGM) yesterday, said an opposition party leader who claimed he was roughed up in the process.

DAP national vice-chairperson M Kula Segaran said he was elbowed and pushed away from the microphone for insisting that the results of a vote on a motion to adopt the previous year's accounts be revealed at the AGM.

He said that 70 percent of the shareholders present voted against the company's audited financial statements for the year ended Dec 31, 2005.

Kula Segaran, who is the Ipoh Barat member of parliament and a Maika shareholder, added that Maika chairperson Abdul Rashid Manaf refused to disclose the result of the voting exercise despite pressure from the floor.

While he was addressing the AGM and insisting on the results, however, an MIC politician (later identified as state assemblyperson S Krishnasamy) "approached me and elbowed me and pushed me away from the mike," said Kula Segaran in the statement.

In the ensuing ruckus where "all (hell) ran loose," foul language and threats were voiced against those who questioned the acceptance of the 2005 audited accounts, he said.

This was followed by a walkout by shareholders, resulting in the meeting to be adjourned.

Police report

Kula Segaran has filed a police report over the incident at Brickfields police station in Kuala Lumpur.

"I am surprised with the conduct of some shareholders whose acts were no different from gangsters in nature and was done in a very uncivilised manner," said Kula Segaran in a statement.

"The chap who elbowed me is a state assemblyman, and this speaks volumes of the party he comes from," he added.

DAP secretary-general Lim Guan Eng, meanwhile, expressed "disgust at the gangster politics employed by (Barisan Nasional parties)."

Maika, created in 1984 by MIC, has only paid its shareholders cash dividends on seven occasions to date, the last being in 1995.

It raised RM106 million from its shareholders when created 20 years ago, but has since been implicated in several controversies, including the 1992 scandal involving RM9 million worth of Telekom shares allocated by the government for the benefit of the shareholders.