- Tan Koon Swan
Tan Koon Swan (born
24th September ,1940 ) is a controversialMalaysian political and corporate figure, who was president of theMalaysian Chinese Association from November 1985 to September 1986.Tan first entered the political fray in the late 1970s. A self-made millionaire largely touted as a financial wizard, he assisted
Lim Goh Tong in establishingGenting Highlands Resort as a successful tourist destination, and was invited to take up the position of Managing Director ofMulti-Purpose Holdings Berhad , the corporate structure through which the MCA hoped to encourage Chinese participation in all areas of economic development [cite news | title = Portrait of Success. | date =1 December 1985 | publisher = Malaysian Business | page = 8, 9] . He joined the party in 1977 and took up the position.In 1978 Tan made his political debut, winning a parliamentary seat in
Raub ,Pahang . The following year, he was elected to the party's Central Committee and appointed Chairman of MCA Wilayah Persekutuan State Liaison Committee.In 1982 he cinched a landslide victory for the parliamentary seat in the opposition stronghold ofDamansara [ [http://www.mca.org.my/English/PastPresidents/Pages/TanKoonSwan.aspx Past Presidents: Tan Koon Swan] ] . 1984 saw him appointed as vice-president of the MCA.In March 1984, Tan was sacked as vice-president from the MCA along with 13 other members for urging the party to investigate its member records for the presence of non-existent people, an issue that had sparked off factionalism and crisis within the party [cite news | title = The Malaysian Chinese Association has expelled 14 leading members including vice president, Tan Koon Swan. | date =
29 March 1984 | publisher =Asian Wall Street Journal | page = 1, 3] . However, he and the other 13 were all reinstated two months later with the support of 1,600 MCA members in an extraordinary general meeting [cite news | title = An EGM of 1,615 "dissident" members of the Malaysian Chinese Association (MCA) in Kuala Lumpur yesterday (6 May) voted to reinstate the 14 expelled leaders led by Tan Koon Swan. | date =7 May 1984 | publisher = Asian Wall Street Journal | page = 1, 3] . In November 1985, he was voted to be president of the MCA winning 76.9% of the votes cast, the largest majority in the party's history, and the first challenger since 1954 to win national leadership [cite news | title = Mr Tan Koon Swan was yesterday elected president of the Malaysian Chinese Association (MCA) by a landslide. | date =25 November 1985 | publisher = Asian Wall Street Journal | page = 16] [cite news | title = MCA: New Beginning. | date =1 December 1985 | publisher = Malaysian Business | page = 5] .Tan remained a highly prominent member of the corporate sector, controlling numerous companies, including
Sigma International , which had a 22.6% stake inPan-Electric Industries [cite news | title = Prospects Improve For Pan Electric Rescue / Attempts to save debt-ridden Singaporean company | author = Chris Sherwell | date =25 November 1985 | publisher =Financial Times | page = 30] , a Singaporean-based company. On12 December 1985 , he signed an agreement that gave the troubled company S$ 20 million of funds through aninterest -free loan and allowed it to resume trading [cite news | title = Singapore Pact to Aid Troubled Firm | date =12 December 1985 | publisher =The San Francisco Chronicle | page = 47] [cite news | title = An interim agreement has been signed by parties concerned to save Pan Electric Industries of Singapore and pave the way for a rescue and reconstruction of the debt-ridden concern. | date =12 December 1985 | publisher = Asian Wall Street Journal | page = 1, 11] .In 1986 he was charged in Singapore with abetting criminal breach of trust relating to the collapse of Pan-El. He was sentenced to two years imprisonment by Singapore High Court Justice
Lai Kew Chai . In Lai's judgement, Lai said Tan’s offences had “struck at the very heart, integrity, reputation and confidence of Singapore as a commercial city and financial centre” Fact|date=February 2008. After his sentencing, Tan resigned as MCA President [ [http://www.mca.org.my/English/PastPresidents/Pages/TanKoonSwan.aspx Past Presidents: Tan Koon Swan] ] . In 1988 Tan was also sentenced and imprisoned in Malaysia, declared a bankrupt, and reportedly owed over RM400 million, at the time roughly equivalent to more than 100 million US dollars. He was ordered to pay RM1000 a month to the Official Assignee and the New Straits Times estimated it would take him 35,316 years to pay off his outstanding claims [cite news | title = Unknown | date =4 May 1989 | publisher =New Straits Times ] . In the mid-1990s, after full repayment, Tan was discharged from bankruptcy [cite news | title = Tan Koon Swan no longer a bankrupt | date =20 September 1995 | publisher =New Straits Times ] .Tan, still a respected member of society, is a born-again Christian who likes to maintain a low profile [cite news | title = The Sunday Interview With: Former MCA President Tan Koon Swan | date =
2 October 2005 | publisher =New Straits Times ] .References
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