Tun Mahathir should learn from Vell Paari who “successfully” managed RM100 million company – Maika Holdings!

More information has begun to emerge relating to hundreds of thousands, if not millions of RM believed to have been misappropriated from Maika Holdings Berhad and it mainly points to one person, its former CEO Dato Sri Vell Paari who was appointed in 1999. Son of Tun Samy Vellu (who was the brainchild of this enterprise that was supposed to uplift Indians in the country).

Allegations are now surfacing that points to Vell Paari using the money belonging to the 66,000 shareholders mainly poor Indians who trusted his father and MIC – like it was his personal bank account.

Documents exposed by Sarawak Report showed approximately RM1.6 million made out to companies which Vell Paari had interests in such as Tamil Nesan (where he was Chairman) and Pyramid Saimira Theatre Chain (M) Sdn Bhd (PSTC) and OKA Motors, among others.

Payments from MHB to Tamil Nesan are donations or refunds?

Vell Paari became the chairman of PSTC, which had been instrumental in securing the distribution rights for “Sivaji The Boss” – Malaysia’s highest gross Tamil movie in 2007, which is said to have raked in US$2.435 million (RM7.9 million). PSTC had received a total of RM1.3 million from Maika’s subsidiary Maika Intellectual Resources Sdn Bhd (MIR) to buy the rights.

However, where is the board of directors approval and money trail to show where the profits went, did it go to Maika or PSTC?

I was fortunate enough to be privy to some of the documents that was revealed by Sarawak Report. Many of the transactions were so shoddy, even the paper trail of it looks questionable e.g. a payment voucher supposedly issued by MIR to PSTC was done by manually cancelling Maika’s company name on the official receipt and replacing it with the MIR’s company chop. Bear in mind that Maika was a RM100 million company, not a kedai runcit. But it seems that is how things were done in Maika Holdings Berhad.

In the documents I sighted, aside from PTSC being one of the companies that monies from Maika were channelled to, OKA Motor Co based in Perth, Australia was another.

No money trails to show the so called RM1 million has been refunded

On 24 August 2011, The Malay Mail published an article on various investigations by the Australian authorities carried out against OKA Australia, for misappropriation of millions of RM, missing accounting files and “stolen” intellectual property manuals valued at RM80 million. These files contained trade information for the manufacture of all-terrain trucks and tour buses.

Vell Paari, who controlled OKA through Reymer Pty Ltd, denied any responsibility that time saying that he was mainly in Kuala Lumpur. However, there were claims that funds of the company had also been mysteriously siphoned out of Australia to a private account in Europe.

Another unexplained payment revealed the case of one payment of RM33,500 to a law firm, Sree Harry as a result of a settlement involving a private action taken by Vell Paari’s mother, which had nothing to do with Maika?

Tamil Nesan was also a beneficiary of mysterious payments as no details of the payments were provided in the receipts issued by Maika.

Vell Paari has now come out claiming that he had channelled funds into the Maika to help it stay afloat and any payments made to him were merely refunds. If what he says is true, no CEO of a multi-million ringgit company would do such a thing. The company was not his family business and even so, there is no justification for him to being a “Samaritan” to Maika by lending the so-called millions.

Vell Paari also maintained his innocence amidst this scandal in a recent statement saying the allegations surfaced are just tactics to extort money (RM3.5 million he claims) from him. He said he has identified the perpetrators and would disclose their identities to the relevant authorities. If you’re really being blackmailed, did you lodge a police report?

What seems to be a letter dated 15 February 2019 shows Vell Paari resigning from his Secretary-General post and also as a member of MIC’s central working committee due to “other commitments”. He rubbished claims that he resigned as a result of the Sarawak Report article. He said receipt of his resignation on 15 February was proof. If the Sarawak Report is wrong then why are you resigning now? After all these years when you held on to power?

Also Vell Paari banged the drum about a huge sum in salaries owed as a CEO, but accounts showing that he had received a nice “severance” package of RM220,000 by G Team Resources upon the disposal of Maika.

Vell Paari’s excesses are legendary. Let us not forget how generous he had been with his one employee, namely his “personal secretary” K. Sujata. In an inquest into her death in 2009, he made known very publicly that he had serviced part of a loan for condominium to the tune of RM220,000, being a guarantor for her loan to buy a Mazda RX8 (priced at over RM200,000 at that time), and even funded her higher studies at the diploma and master’s level? Where did all this money come from?

Maika bled dry making mysterious payments to companies owned by Vell Paari and more evidence is being uncovered. This itself warrants a large-scale investigation by the MACC. Too many people have suffered from the corruption and greed of few individuals.

Justice must be served!

Fight Injustice Everywhere

Dato’ Sri Sanjeevan Ramakrishnan


  1. It is not my first time to visit this web site, i am
    visiting this web site dailly and get pleasant facts from here all the time.

  2. I’m truly enjoying the design and layout of your website.
    It’s a very easy on the eyes which makes it much more
    enjoyable for me to come here and visit more often. Did you hire out a developer to create your theme?
    Superb work!

  3. Hello there I am so thrilled I found your weblog, I really found you by mistake, while I was searching on Google for something else, Anyways I am here now and would just like to say
    thanks for a marvelous post and a all round exciting blog (I also love the theme/design), I don’t have time to look over it all at the minute but I have bookmarked it and also added in your RSS feeds, so when I have time I will be back to read
    a great deal more, Please do keep up the fantastic jo.

  4. Cbd oil that works 2020
    I’m really loving the theme/design of your
    web site. Do you ever run into any web browser compatibility
    issues? A number of my blog readers have complained about my website not operating correctly
    in Explorer but looks great in Safari. Do you have any tips to
    help fix this issue? best cbd oil for pain
    cbd oil that works 2020

  5. Admiring the hard work you put into your blog and detailed information you offer.
    It’s nice to come across a blog every once in a while that isn’t the
    same outdated rehashed material. Fantastic read! I’ve bookmarked your
    site and I’m adding your RSS feeds to my Google account.

  6. It’s the best time to make some plans for the future and it is time to
    be happy. I’ve read this post and if I could I wish
    to suggest you few interesting things or advice. Perhaps you could
    write next articles referring to this article. I wish to
    read even more things about it!

  7. Hi, I do believe this is an excellent blog.

    I stumbledupon it 😉 I may return yet again since i have bookmarked it.
    Money and freedom is the greatest way to change, may you be rich and continue to help others.

  8. Hi there, just was alert to your weblog through Google, and located that it is really informative. I抦 going to be careful for brussels. I will appreciate in case you continue this in future. Many other people will probably be benefited from your writing. Cheers!

  9. always i used to read smaller articles that also clear their motive,
    and that is also happening with this article which I am reading at
    this place.

  10. With havin so much content do you ever run into any problems of plagorism or copyright infringement?
    My website has a lot of completely unique content I’ve either created myself or outsourced but it
    appears a lot of it is popping it up all over the internet without
    my authorization. Do you know any solutions to
    help prevent content from being ripped off? I’d certainly appreciate it.

  11. I am the business owner of JustCBD company ( and am seeking to grow my wholesale side of business. It would be great if someone at targetdomain can help me ! I considered that the most suitable way to do this would be to talk to vape stores and cbd stores. I was hoping if anybody at all could recommend a reliable web-site where I can purchase Vape Shop Sales Leads I am already considering, and Unsure which one would be the best selection and would appreciate any advice on this. Or would it be much simpler for me to scrape my own leads? Suggestions?

  12. What’s Going down i am new to this, I stumbled upon this I’ve discovered It positively helpful and it has aided me out loads.
    I am hoping to give a contribution & aid other users like its helped me.
    Great job.

  13. Thank you for the good writeup. It in fact was a amusement
    account it. Look advanced to far added agreeable from you!

    By the way, how could we communicate?

  14. Ahaa, its fastidious conversation on the topic of this piece of writing here at this weblog, I have read all
    that, so at this time me also commenting at this place.
    adreamoftrains web hosting companies

  15. I’m not sure exactly why but this web site is loading incredibly slow for me.
    Is anyone else having this problem or is it a problem on my end?

    I’ll check back later on and see if the problem
    still exists.

  16. Unquestionably believe that which you said. Your favorite reason appeared to
    be on the internet the easiest thing to be aware of.

    I say to you, I certainly get annoyed while people think about worries
    that they just don’t know about. You managed to hit the nail upon the top and also
    defined out the whole thing without having side effect , people can take
    a signal. Will probably be back to get more. Thanks

  17. Hi there! This is kind of off topic but I need some guidance from an established blog.
    Is it very difficult to set up your own blog?
    I’m not very techincal but I can figure things out pretty fast.
    I’m thinking about creating my own but I’m not sure where to start.
    Do you have any points or suggestions? Many thanks

  18. wonderful submit, very informative. I wonder why the other specialists of this
    sector do not understand this. You must continue your writing.

    I’m sure, you’ve a great readers’ base already!

Leave a Reply