SEREMBAN: Umno has assets worth billions of ringgit which should be sufficient to fund its activities at all levels, said party veteran Tengku Razaleigh Hamzah (pic).
The Gua Musang MP, who will be contesting the presidency in Saturday’s (June 30) party polls said it was strange that despite being asset rich, the divisions were told to look for their own source of funding after Barisan Nasional lost in the recent general election.
“Umno has assets including in prime areas all over the country.
“We have our own offices in the states and divisions which were now strategically located as these were acquired way back in the 1960s and 70s.
“If we manage these properties and assets well, then we should have enough funds to run our activities,” he said during a meeting organised by the Negri Sembilan Umno liaison committee on Monday (June 25).
The 81-year-old Kelantan prince was responding to a query from the floor to why the party, which was supposedly cash rich, and had been ruling since independence, had issued a letter to all divisions directing them to seek their own funds post general-election.
In a May 22 dated letter, Umno secretary-general Datuk Seri Tengku Adnan Tengku Mansor said the party had looked into its financial standing, and monthly allocations to all divisions and wings would be stopped.
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