Kuala Lumpur, July 16 - The son of Malaysian Indian Congress (MIC) chief S. Samy Vellu has said he will not contest the party poll, ending speculation that his father was promoting him to eventually succeed him.

'I have decided to resolve the issue which the opposition is harping on,' Vell Paari, who is adviser to the party's youth wing and heads Maika Holdings, the business wing, said in a statement.

He said he was keen on contesting the vice president's post but felt that he had a moral obligation to the 60,000 Maika shareholders, The Star reported.

'It is not right for me to think of politics at the moment as I have not found a solution to refund the money to the shareholders,' he said.