Two Maika shareholders have submitted their nominations to contest for the director posts in the coming annual general meeting of Maika Holdings Bhd.

DAP parliamentarian for Ipoh Barat M Kulasegaran and political activist VK Vembarasan submitted their nominations to Maika Group finance manager Veera Mohan today.

When contacted, Vembarasan explained the reasons why he had nominated himself to contest.

"Maika is one of the largest companies in the world with over 60,000 shareholders. However, the company has only two directors. We feel there must be more directors," he said.

He said in the 80s and 90s, the company had nine directors but the number had dwindled in recent years.

"The chairperson (Abdul Rashid Abdul Manaff) hardly attends any meetings and we need more heads to give more useful inputs," he said.

"Do they have a hidden agenda for not having more than two directors?" he asked.

Samy should attend

Vembarasan also wants Maika founder and MIC president S Samy Vellu to attend the AGM which is scheduled for Aug 30 at the Sime Darby Convention Centre in Mont Kiara, Kuala Lumpur.

"As the founder of the company, it is only right for him to be there to answer questions posed by the shareholders," he said, adding that the directors must ensure the meeting is conducted in a proper manner.

Meanwhile, Kulasegaran said the duo aim to serve the shareholders if elected to become directors of the company.

"If we get elected, we will expose the failings of the company. We will expose what has been going on," he said, adding that Vembarasan and him have the expertise to handle the "ailing company."

He also stressed that both of them have decided not to take any form of income from the company should they become directors.

Explaining that it is up to the shareholders to elect them, Kulasegaran said: "We're asking all shareholders, no matter big or small, to attend the meeting."

On Monday, 10 Maika shareholders, led by Kulasegaran, submitted a memorandum to the Companies Commission of Malaysia urging the commission to defer the date of the AGM and change the venue.

The shareholders feel Aug 30 is not an appropriate date as it is on the eve of a national holiday and the venue chosen is too far from the city centre.