KUALA LUMPUR, Dec 4 - Datuk Seri Dr Chua Soi Lek announced today that he will not defend his presidency in the second largest party in ruling Barisan Nasional (BN), despite facing “enormous pressure” to run.

The announcement came even as he said he would have good chances of winning if he were to join the three-corner fight for the top post.

“With three candidates announcing to join the presidency race, many have said that I would have the advantage if I enter the race.

“However, I feel I should exercise my political wisdom and not backtrack my words.

“I want to retire with integrity and credibility,” he told reporters here at the MCA headquarters.

MCA will hold its party election when it convenes its annual general meeting that is due to be held from December 19 to 21.

The three candidates who have confirmed their candidacies for the president’s post are current deputy president Datuk Seri Liow Tiong Lai, former president Datuk Seri Ong Tee Keat and vice-president Gan Peng Sieu.

But Gan is considered by political observers to be a proxy in the contest for Dr Chua, and was forced to deny he was standing in for the latter when he announced his candidacy.

Today, Dr Chua said the crowded field would give him a “tremendous advantage given his consistent victories in winning over the support of the party’s delegates over the past five years.

“If I stand and win, I feel like it is an empty victory because earlier I have already said I am not defending,” he said.

Following MCA’s worst electoral performance in the General Election 2013, Dr Chua pledged to relinquish the presidency during this month’s AGM, but had previously hinted that he may renege on his vow to leave.

“After I won the presidency in 2010, I have worked hard but hard work is not enough in these challenging social, economic, political environment so it is time for me to give way to the younger generation,” he said today.

Last week, reports emerged that the MCA leadership battle is getting intense with fresh allegations of money-politics and vote-buying.

Claims have emerged that some 120 party division chairmen have been receiving “allowances” to ensure the division delegates’ allegiance.

Ghost writers have also been paid to promote certain individuals.

Today, Dr Chua said businessmen’s involvement in the party election would undoubtedly bring in money politics.

“We hope that businessmen should not get involve in MCA leaders, we thank them for being concerned about MCA, we thank them for their support but party election, let the members decide because every time businessmen come in, money is involved and MCA must stand firm to reject money politics in the party election.

“If we are involved in money politics, then it will only serve to devalue the position of MCA presidency and other top leadership, so comrades must stand firm to reject this,” Dr Chua said.

He also pointed out that he has been active in the party for 28 years, since holding the division chairman position in 1985, until today and deserve to retire at this juncture.

“So I hope my comrades who have supported me, I thank them, but they must not grudge my retirement, I feel like I have earned my retirement.

“[But] to stabilise the party, to enable the party to move forward, one of the ways to do it is for me to retire,” he said.

MCA will hold its party election when it convenes its annual general meeting that is due to be held from December 19 to 21.