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What happen to KYY RM1 million investment competition? Why MCA rejected KYY 30 million donation offer?

Many people including stockraider as show in his post below are asking the first question but no one except stockraider asked the 2nd question.
kyy

My answer for the first question:

After RHB could not accept my donation offer without giving me any reason, I made the same offer to Maybank and it also rejected it without giving me any reason. I cannot stop wondering as if my huge donation is a bad thing.

I made the same proposal to CIMB and I was told that that it is not so easy for the bank to accept my offer. The bank is doing the following:

The heads of various departments, computer system, administration, accounting, publicity, margin finance, operation and others have met a few times to discuss how to manage the increased business. The competitions with Rm one million price money will attract a few hundred of new margin accounts. The follow are some of their concerns:-

Can their computer system handle the additional work load?

How many more remisiers, accounting, clerical, administrators etc to be employed for each State and for the HQ?

Each State CIMB manager has to discuss with all their branch managers about the additional business.

All the CIMB State managers have to submit their requirement in order to cope with the additional business to CIMB HQ.

I was also told that their margin finance department is considering to offer a more attractive loan scheme to all the participants because of the increased revenue and profit.

Finally the bank has to seek Securities Commission’s approval because SC might think that the competition will encourage more investors to take extra risk to win some of the prices. I hope SC will approve it.

After the above explanation, I hope no one will doubt my sincerity in making my donation offer. I also hope there will be less abusive critics making stupid comments and more people will defend me.

My answer for the 2nd question:

As I said no one except stocktrader has asked me this question in the last 6 years because the bad publicity had caused MCA to lose almost all the seats in the last general election.

I offered Rm 30 million with no profit incentive, to build student hostels within UTAR campus in Kampar, Perak. MCA which controlled UTAR rejected my offer. Multi-millionaire Tan Sri Hew See Toong and other MCA leaders who owned all the land outside the university campus, did not want any student hostels within walking distance to lecture halls to disturb or upset their lucrative property development business.

In fact, during the last general election period I canvassed for Dr Koh by telling all the voters about MCA’s rejection of my Rm 30 million donation offer. As a result Dr Koh won over MCA leader and former Minister Dato Lee Chee Leong by an unprecedented margin.

Dato Justice NH Chan wrote an article with the title “ Why should MCA interfere with UTAR?” to defend me. I shall post it on i3investor shortly.

  

Justice NH Chan passed away 4 days ago and his funeral was yesterday during which I was given the honor to deliver a eulogy.

 

Briefly I said that I first knew NH when he was reading in chamber with Cheang Lee and Ong, a well established law firm in Ipoh in 1963, 53 years ago. I remember that he did research for Tan Sri V. Jeyaratnam to defend an alleged murderer. The defense was successful.

Subsequently he joined the Government judiciary service. He rose from the rank and end up as an appeal court judge. During his retirement, he wrote the famous book with the title “How to judge a judge”. After reading the book of about 500 pages, I can summarize it in a few sentences.

A judge does not need to know all the laws to judge any case because the prosecutor will tell you which law the accused has broken and the defense lawyer will tell you why his client has not broken the law. A good judge will listen carefully and make his judgment. But there are a lot of corrupted judges who do not judge fairly in Malaysia.

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