DAP demands MCA's explanation on its gaming bid
The DAP claimed today of links between MCA’s bid for Tanjong Plc’s gaming business and its previous pro-sports betting licence position.
MCA was supportive of tycoon Tan Sri Vincent Tan’s Ascot Sports’ attempt to get a sports betting licence earlier this year.
DAP MP Anthony Loke demanded that MCA president Datuk Seri Dr Chua Soi Lek clarify the news report carried by The Malaysian Insider this morning.
“Did they (MCA) support sports betting in the past because they were planning or hoping to buy into the gaming business? Was that why the MCA supported the government’s intent to legalise sports betting? Come clean on this.
“MCA president Chua Soi Lek must confirm this news report. What moral authority does the MCA have left, with taking over a gaming business?” said Loke.
The MCA is said to be in the mix to buy Tanjong Plc’s gaming business, valued at about RM2.5 billion, along with the Cheng family, Filipino tycoon Roberto ‘Bobby’ Ongpin Jr and some international private equity firms.
The move comes after MCA’s Huaren Holdings Sdn Bhd sold its 42.4 per cent stake in The Star publisher Star Publications (M) Bhd for RM1.28bil, or RM4.09 a share, to the party last Thursday, giving the investment firm the funds to buy the gaming company in a combination of cash and debt financing.
The Malaysian Insider understands that MCA has been advised to bid for the gaming unit as it offers recurring revenue, similar to The Star daily.
“The MCA is in the fray for Tanjong,” a source told The Malaysian Insider.
It is also learnt that Tanjong’s controlling shareholder, tycoon T. Ananda Krishnan, could decide as early as today whether to make the sale. The expected sale is part of a restructuring to be syariah-compliant and tap the Middle East and North African markets together with those in South and South-East Asia to expand the power-generation business.
Loke added that he wanted to know what Umno lawmakers thought about MCA’s bid to purchase the gaming unit.
“I want to ask Umno about this. What do they think about their partner, MCA’s interest in Tanjong plc? MCA is still part of the government, although they in reality have no real power,” said Loke.
The Najib Administration had said on June 25 that it will not issue a football betting licence, weeks after tycoon Tan Sri Vincent Tan said his Ascot Sports Sdn Bhd had received approval for an old licence.
“After taking into account various views, we are of the opinion that the majority did not agree the decision to issue the licence to Ascot Sports,” Prime Minister Datuk Seri Najib Razak had said.
The government had decided not to award the sports betting licence to Ascot Sports, after intense public pressure by Pakatan Rakyat - Agencies.
MCA was supportive of tycoon Tan Sri Vincent Tan’s Ascot Sports’ attempt to get a sports betting licence earlier this year.
DAP MP Anthony Loke demanded that MCA president Datuk Seri Dr Chua Soi Lek clarify the news report carried by The Malaysian Insider this morning.
“Did they (MCA) support sports betting in the past because they were planning or hoping to buy into the gaming business? Was that why the MCA supported the government’s intent to legalise sports betting? Come clean on this.
“MCA president Chua Soi Lek must confirm this news report. What moral authority does the MCA have left, with taking over a gaming business?” said Loke.
The MCA is said to be in the mix to buy Tanjong Plc’s gaming business, valued at about RM2.5 billion, along with the Cheng family, Filipino tycoon Roberto ‘Bobby’ Ongpin Jr and some international private equity firms.
The move comes after MCA’s Huaren Holdings Sdn Bhd sold its 42.4 per cent stake in The Star publisher Star Publications (M) Bhd for RM1.28bil, or RM4.09 a share, to the party last Thursday, giving the investment firm the funds to buy the gaming company in a combination of cash and debt financing.
The Malaysian Insider understands that MCA has been advised to bid for the gaming unit as it offers recurring revenue, similar to The Star daily.
“The MCA is in the fray for Tanjong,” a source told The Malaysian Insider.
It is also learnt that Tanjong’s controlling shareholder, tycoon T. Ananda Krishnan, could decide as early as today whether to make the sale. The expected sale is part of a restructuring to be syariah-compliant and tap the Middle East and North African markets together with those in South and South-East Asia to expand the power-generation business.
Loke added that he wanted to know what Umno lawmakers thought about MCA’s bid to purchase the gaming unit.
“I want to ask Umno about this. What do they think about their partner, MCA’s interest in Tanjong plc? MCA is still part of the government, although they in reality have no real power,” said Loke.
The Najib Administration had said on June 25 that it will not issue a football betting licence, weeks after tycoon Tan Sri Vincent Tan said his Ascot Sports Sdn Bhd had received approval for an old licence.
“After taking into account various views, we are of the opinion that the majority did not agree the decision to issue the licence to Ascot Sports,” Prime Minister Datuk Seri Najib Razak had said.
The government had decided not to award the sports betting licence to Ascot Sports, after intense public pressure by Pakatan Rakyat - Agencies.
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