KUALA LUMPUR, MALAYSIA: The MIC's probe into the running of its education arm, the Maju Institute of Education Development (MIED), is expected to turn up more financial discrepancies.

The first stage of investigations had uncovered the disappearance of RM5.25 million (S$2.2 million), believed to have been channelled into an individual's account.

MIC president Datuk Seri S. Samy Vellu said the MIC had lodged a police report against two people in connection with the missing money and investigations by the police were under way.

Samy Vellu was speaking before handing MIED's Ujian Pencapaian Sekolah Rendah 2008 excellent performance awards to 725 students and 202 schools nationwide here yesterday.

"We're still investigating. There are more coming."

He denied a recent report that MIED was being probed by police.

"It was MIC that lodged the report based on our internal investigation about the missing money," said Samy Vellu, who is MIED chairman.

"We are asking police to investigate. Definitely the police would come and see me as I'm the head of MIED. They wanted to find out what happened."

On allegations that the building and maintenance cost of MIED's Asian Institute of Medicine, Science and Technology (AIMST) had ballooned from RM230 million to RM500 million due to discrepancies in giving out job tenders, he said RM485 million was spent and every sen had been accounted for.

"A project manager and a quantity surveyor oversee AIMST. We don't call for tender. Someone simply made a report that RM100 million was missing."