PETALING JAYA: MCA president Wee Ka Siong today said government funds were transferred directly to Tunku Abdul Rahman University College (TAR UC) — not to MCA — even when the Barisan Nasional was in power.
In a press statement to rebut those who he claimed intended to “tear down” TAR UC, he said the owner of the college is TARC Education Foundation.
The Ayer Hitam MP said clause 12 of its memorandum states that once the foundation stops its operations, the assets would not be distributed to the members of the foundation, adding that it must be donated to other charitable organisations of a similar nature with similar goals.
He said this will be carried out after the approval of the Inland Revenue Board.
“So how is MCA going to benefit from it?”
Wee said the government has stressed in recent months that 50% of the TAR UC board of trustees must be independent members.
“What about the Perdana Leadership Foundation that was set up by the prime minister? Its board of trustees are all members of its foundation.
“What does it mean? One country, two systems?”
He also said according to media reports, TARCian Alumni Association (TAA) had submitted its application to form a foundation two weeks ago and it was approved by the Companies Commission of Malaysia yesterday.
But can the TAA Education Foundation replace the TARC Education Foundation, he asked.
“If this newly-established alumni association education foundation would like to award scholarships and study loans to TAR UC students, we will welcome such a move. The more the merrier.”
Previously, Wee had questioned Finance Minister Lim Guan Eng’s insistence on channelling the proposed RM30 million trust fund to TARCian Alumni Association (TAA) instead of other alumni associations which have more members.
The MCA president said TAR UC had five alumni associations approved by the Registrar of Societies.
Lim had previously said that about RM30 million was approved to a trust fund for TAR UC and its students annually, provided that MCA relinquishes control of the institution.
The trust fund would be managed by TAA, Lim had said.