KUALA LUMPUR (Aug 14): MCA is not selling its shares in STAR PUBLICATIONS (M) BHD [], said party president Datuk Seri Dr Chua Soi Lek.
"We deny that MCA is selling our Star shares. In fact, MCA’s holding in Star has increased in the past three years, from 41% to 42.42%," Chua told a press conference after today's presidential council meeting.
Star Publications publishes, prints and distributes The Star newspaper, among others.
Responding to the rumour mill of a sale of The Star, he warned that the party was prepared to sue those who continue to spin such stories.
"Star shares are registered under MCA’s name and not that of the president," he said, explaining that any sale or transaction regarding Star’s shares must first gain the approval of two-thirds of the party's central committee.
Chua also denied that MCA is going to carry out a management buyout of Star shares. "We never received such information."
"Star shares are public-listed. Anyone can buy. We are not selling Star, but accumulating Star shares," he said.
Written by fz.com (contributor to theedgemalaysia.com)
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