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Red Knights not to offer more than 1-bn dollars to Man U owners

May 11, 2010 By vani Leave a Comment

London, May 11 (ANI): The Red Knights, a group of wealthy Manchester United fans, have ruled out offering the club owners in excess of one billion pounds.

The Glazer family bought Manchester United for 790 million pounds in 2005, against a wave of opposition from fans.

The Glazer family, who tomorrow mark their fifth anniversary as United owners, has started a media offensive to underline their determination not to sell the club, saying the pipeline of commercial deals point to sustained growth enabling the club to manage its debt burden.

Sky News’ City editor Mark Kleinman revealed the bid limit shortly before the Red Knights released a statement announcing that they would not offer “above fair value” for the club.

“The Red Knights are now in the advanced stages of preparing their offer for Manchester United. My understanding, based on what my sources have said, is that they have privately ruled out offering more than a billion pounds for Manchester United,” said Kleinman.

“This comes after speculation last week that the Glazers had turned down offers of 1.5 billion pounds for the club in the past,” he said.

In a statement obtained in advance by Sky News, the Red Knights said they had held conversations with investors, which had reinforced their belief that it would be “wrong to offer above fair value.”

They say this is particularly important due to the club”s need to reduce its debt and the fact that the fair value could be expected to fall over time due to the headwinds facing the game of football.

Commenting on the statement, Kleinman said: “That fair value is a critical number because if what the Red Knights deem to be fair value is unacceptable to the Glazers, then it looks like there will be no deal.” (ANI)

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Malaysian Indian Congress chief ‘under pressure to quit’

May 7, 2010 By vani Leave a Comment

Kuala Lumpur, May 7 (IANS) S. Samy Vellu, long-time chief of the Malaysian Indian Congress (MIC), is ‘under pressure’ to quit and make way for a younger colleague by the leadership of the ruling alliance Barisan Nasional (BN), a media report said Friday.

Claiming to speak for Malaysia’s over 1.7 million ethnic Indians, the MIC is a key BN constituent.

Vellu, who has been heading the party since 1979 and was a long-time minister, lost his ninth bid at re-election and the MIC had fared badly in the March 2008 polls.

He is ‘under pressure from every side’ to quit even though the party seems to be reviving as indicated by its nominee’s victory in the prestigious parliamentary by-election for the Hulu Selangor seat last month, The Star newspaper said.

P. Kamalanathan, who won the seat, was however not Vellu’s choice. He was hand-picked by Prime Minister Najib Tun Razak, who is also the BN chief.

‘The outcome of the Hulu Selangor by-election saw Indian voters returning to Barisan Nasional but only because a younger and more proactive candidate was fielded,’ the newspaper said.

‘With signs of Indian voters returning to Barisan Nasional, the MIC may need to complete its succession plan to ensure the flow is not reversed.

‘Pressure from every side is mounting on Vellu to retire sooner and not hang on until his term expires in May 2012,’ a senior Barisan leader was quoted as saying on condition of anonymity by the newspaper.

‘The Barisan’s top leadership is confident it can sway Indian voters but only with a new man at the helm of the MIC.

‘A new leadership and a new era would bring hope to the voters,’ the Barisan leader said.

‘The Barisan is also changing rapidly and we can’t talk change with the political veterans clinging on. A new era requires a new leadership MIC,’ he added.

With the next general election coming soon, Najib needs newer and younger leaders at the helm of the MIC and other Barisan component parties before facing the voters.

Vellu staying on until 2012 will not gel with the Barisan’s plans to prepare for a general election where younger voters numbering over five million will determine victory or defeat for either of the political coalitions, the newspaper said.

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Poll victory indicates support for ruling coalition: Malay Indian leader

April 26, 2010 By vani Leave a Comment

Kuala Lumpur, April 27 (ANI): The election of Malaysian Indian Congress (MIC) leader P Kamalanathan to the country’s parliament from Hulu Selangor, is a signal that Malay Indians identify themselves with the aspirations of the ruling Barison Nasional (BN), the Star reports.

Kamalanathan has been instrumental in the turnaround of MIC’s fortunes. Malay Indians form twenty percent of the Malaysian electorate, and he has increased community support by at least eight percent.

“Indians are back with MIC but that doesn””t mean the work is over. We still have a lot more to do,” said a jubilant Kamalanathan.

He also indicated that his target would be to restore Indian support back to pre-2004 levels and to fulfil Barison Nasional promises to the people.

Saying that his win belonged to Prime Minister Najib Razak, his deputy Muhyiddin Yassin, MIC president Datuk Seri S. Samy Vellu and everyone else who had worked hard for him, he said that his triumph signified the people’s acceptance of Razak’s leadership. (ANI)

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Former Malaysian PM, MIC chief Samy Vellu engaged in war of words

September 19, 2009 By admin Leave a Comment

Putrajaya (Malaysia), Sep 19 (ANI): Former Malaysian Prime Minister Dr Mahathir Mohamad has warned that Malaysian Indian Congress President S. Samy Vellu will become a liability to the Barisan Nasional in the next general election since his leadership has failed.

Mohamad suggested that Samy Vellu should step down and take responsibility for the party’s failure in the last general election.

“If we look at other countries, whenever a leader fails, he resigns. In Japan, he commits harakiri. We’re not asking him to commit harakiri. This is not directed at Samy Vellu alone because there are others who are like him,” The Star Online quoted him, as saying.

“Malaysian leaders still do not understand that when they fail, they should resign of their own volition, no need for others to tell them,” he added.

He said Barisan leaders must admonish Samy Vellu because they were responsible not only for the performance of their own parties but also that of the coalition.

“If I know that a person will cause the BN to lose, that is already a BN problem, no longer an MIC problem. Because of him, the BN lost. Previously, there was no Hindraf. It’s him that the people don’t want but he still wants to be president,” Dr Mohamad said.

On Samy Vellu’s chosen leaders winning last week, Dr Mohamad said they could win party elections, but would lose in the general elections because the people would not support them.

Reacting to Dr Mohamad’s statement, Samy Vellu said the former prime minister who is now calling him a liability had labelled him an asset “when we were winning.”

“His comments are like telling a young wife that she is beautiful and an asset, but when she becomes old, she is branded a liability,” he said. (ANI)

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Pakistan got 970-mn dollars and not 3-bn dollars from US

September 17, 2009 By admin Leave a Comment

Islamabad, Sep 17 (ANI): The United States has provided 970 million dollars in aid to Pakistan since the PPP-led Government came to power and not three billion dollars as claimed by US Ambassador Anne Patterson, a Pakistani Finance Ministry official has said.

The statement of US Ambassador to Pakistan, Anne Patterson, about giving 3 billion dollars assistance to the Zardari Government even surprised the top economic managers of the country. They were completely clueless about the figure of 3 billion dollars floated by the US.

“Out of the total 970 million dollars funding, a major chunk of 550 to 600 million dollars was in shape of the Coalition Support Fund (CSF) as it was the money which was spent by Pakistan on military’s movement and it took several months for clearance from the US authorities,” The News quoted a a senior official of the Finance Ministry, as saying.

The US has provided less than one billion dollars to Pakistan since the PPP-led government came into power, he said.

The US provided 497 million dollars in shape of CSF in May 2009. Earlier, the US provided around 100 million dollars on the same head a couple of months back – at the end of last financial year.

Around 300 million dollars were provided through USAID during the last financial year. Recently, the US authorities provided over 100 million dollars for the internally displaced persons (IDPs) of the Malakand Division.

“The US ambassador should provide details of 3 billion dollars assistance given to Pakistan during the last one and a half years period,” the official said.

Official sources pointed out that Pakistan was bearing the borrowing cost owing to delays in payments from the US related to the CSF. (ANI)

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Malaysian Indian Congress not withdrawing from government

April 14, 2009 By admin Leave a Comment

Kuala Lumpur, April 13 (IANS) The Malaysian Indian Congress (MIC) has said it is not planning to withdraw from the government over last week’s allotment of portfolios by

Prime Minister Najib Tun Razak.

MIC leaders said that reports about it being unhappy are ‘rumours’, and denied it was meeting Friday to consider withdrawal.

MIC deputy president G. Palanivel said he was not aware of any meeting of top party officials Friday to consider a proposal to pull out the party’s representatives from the cabinet.

‘If such a meeting was held, I would have known about it,’ New Straits Times quoted him as saying Monday.

The party that speaks for the two million-plus Indian community chose to step back even as partners of the ruling coalition Barisan Nasional (BN) pointed out that choosing ministers and allocation of portfolios was the prerogative of the prime minister.

Razak last week retained S. Subramaniam as the Human Resource Minister besides two junior ministers belonging to the MIC in his new team.

Razak and most of his ministers belong to the United Malays National Organisation (UMNO) the party that represents the majority Muslim Malays.

MIC sources said the human resource ministry was a ‘junior’ portfolio and the party’s nominees in the government had handled more important Communications and Works portfolio.

Palanivel said in many countries, ministries for human resources, social development and environment were considered important and were often held by senior ministers.

‘As such, I will not term the Human Resources Ministry as a junior ministry.

It is an important ministry centred on human capital development.

‘I feel, given his relative new experience, our Human Resources Minister Datuk Subramaniam is doing a good job. Our two deputy ministers Saravanan and Datuk S.K. Devamany are also doing a good job.’

However, Palanivel hoped the MIC is given greater representation in future in the cabinet and in other decision-making bodies in the government, its agencies and government-linked companies.

Commenting on reports that MIC might withdraw its minister and two deputy ministers from the cabinet to protest over the lack of importance accorded to the Indian community, Malaysian Chinese Association (MCA) President Ong Tee Keat said it is only fair for anyone to make comments after the MIC had formally raised the issue.

‘For instance, to withdraw from the cabinet, their decision must be brought up to the prime minister.

‘Prior to such a move, I do not think it is appropriate for us to jump to a conclusion.’

MCA speaks for the 33 percent ethnic Chinese population.

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Malaysian Indian Congress may pull out of government: Report

April 12, 2009 By admin Leave a Comment

Kuala Lumpur, April 12 (IANS) Unhappy over being given the same portfolios again in the government under Prime Minister Najib Tun Razak, the Malaysian Indian Congress (MIC) may withdraw from the ministry, media reports suggested.

The party, which represents the two million-plus Indian diaspora, has officially denied any plan to withdraw, but has acknowledged discontent among the grass root workers.

S. Subramaniam, who retained the human resource portfolio, has called media reports on the issue as ‘wrong and mischievous’.

But party officials, who were not be named, told The Star that a proposal to withdraw had been prepared and would come up for discussion at the highest level next Thursday.

Besides Subramaniam, the party also has two deputy ministers – M. Saravanan (federal territories ministry) and S.K. Devamany (prime minister’s department).

Party officials, not wishing to speak on record, claim his portfolio is considered ‘junior’ in political terms.

Past MIC nominees have headed the relatively more important transport and works ministries, they say.

Party officials said MIC had requested for works portfolio that was earlier held by its president S. Samy Vellu, but this was not accepted. Vellu lost the election held in March last year.

MIC is the third-biggest component of the ruling coalition Barisan Nasional (BN) and has shared power since independence in 1957.

‘Even if we do withdraw our representatives, MIC will remain in Barisan but would concentrate on uniting the Indian community,’ an official said.

Subramaniam, however, said: ‘If there are differences within Barisan, it will be discussed behind closed doors and resolved amicably.’

MIC information chief M. Saravanan said that while there was a general feeling that the party lacked strong representation in the cabinet, there was no way that the party would resort to such drastic action.

He said that increasing the quota for ministerial posts or reshuffling the cabinet posts was the prerogative of the prime minister and that no one but the party president Vellu could discuss the issue with the prime minister, New Straits Times reported.

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Aircel to expand India operations; planning $5 billion investments in 3 years

April 10, 2009 By admin Leave a Comment

As per the reports by Business Standard, Aircel Cellular is working on plans to expand its presence in India, proposing to put in a $5 billion investment over the next three-year period.

Initiating its operations in Mumbai on Friday, the GSM service provider – with a 70 percent stake held by Malaysian telecom giant Maxis Communications has dispelled hearsay about its plans to get hold of the citys oldest mobile company, Loop Mobile.

After commencing its operations in December 2003, Aircel has thus far had invested a total of $5 billion; with a part of its future investments will also be earmarked for the development of its current network, increasing the number of towers from 20,000 to 40,000 by this year-end.

By and large, Aircels planned expansion will also see the addition of five new circles Madhya Pradesh, Gujarat, Rajasthan, Haryana and Punjab by next year.

Saying that the company has adequate funds, and is not planning an immediate Initial Public Offering, Aircel COO Gurdeep Singh elaborated on the proposed plans: We have planned $5 bn investment for financial years 2010, 2011 and 2012 for expansion of operations. We are planning to commence operations in five additional circles. A good amount of investment will be made in existing circles also.

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SC dismisses contempt petition against Karunanidhi, Baalu

April 1, 2009 By admin Leave a Comment

New Delhi, Apr 1 (ANI): The Supreme Court on Wednesday rejected the contempt petition filed against Tamil Nadu Chief Minister M Karunanidhi and Union Transport Minister TR Baalu by the All India Anna Dravida Munnetra Kazhagam (AIADMK) in connection with the October 1, 2007 state shut-down.

A bench of Justices BN Aggarwal and GS Singhvi dismissed the petition on the ground that the AIADMK failed to establish the allegation.

The AIADMK had filed a contempt petition alleging that the Tamil Nadu government had organised the state shut-down in support of their demand for the speedy completion of the Setusamudram project despite the apex court restraining it from doing so.

Baalu was accused of making derisive allegations against judges of the Supreme Court, questioning their integrity.

On March 25, the Supreme Court had reserved its verdict in the case, which also involved four others.

The apex court, in a special sitting on a Sunday, had issued show cause notices to Karunanidhi, Baalu, State Chief Secretary LK Tripathi, State DGP, the State Transport Minister and the State Transport Secretary for not following the directions of the court.

Baalu had made derogatory remarks against Justice Aggarwal for passing the orders on a Sunday.

While reserving its verdict, the SC had reacted to Baalu’s remarks saying, “It shows utter ignorance of the man (Baalu). For the last 50 years, courts function on Sundays also. People who are governing the system don’t know its functioning. They are intellectual giants.”

The apex court had also held that it has become a practice for many persons holding high positions to insult the judiciary. (ANI)

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