Kojadi board to seek legal advice over 1MDB grant

  • Nation
  • Wednesday, 03 Jul 2019

KUALA LUMPUR: The board members of Kojadi will seek legal advice on how to approach the Malaysian Anti-Corruption Commis­sion (MACC) over the handling of a RM15mil grant given to the cooperative by Yayasan 1MDB in 2012 to provide micro-credit for youth, says Datuk Seri Dr Wee Ka Siong (pic).

The MCA president said the party central leadership will do its best to provide legal assistance to protect Kojadi (Koperasi Jayadiri Sdn Bhd) and the interests of its directors.

“Kojadi directors have agreed that this matter should be handled by legal advisers who will study how to approach MACC,” he said on Monday night.

Earlier in the day, Dr Wee had a meeting with all board members following accusations from the cooperative chairman, Datuk Ng Peng Hay, that the party had interfered in the handling of the grant.“I had a two-hour meeting with Kojadi board of directors. Its chairman Ng Peng Hay was the only one absent.

“Fourteen others, including vice-chairman Datuk Hoo Seong Chang and secretary Datuk Yik Phooi Hong, were present,” he said.

Dr Wee said that during the meeting at Wisma MCA, he was briefed about the board’s June 27 meeting (chaired by Ng), which was not an emergency board meeting as Ng had claimed.

“The board of directors did not authorise Ng to initiate the repayment of RM8mil to MACC.

“The board resolved to write to MACC again to follow up on the latest development and requested Ng to discuss the matter with MCA leaders and consult legal advisers before taking the next course of action,” he added.

Kojadi was formed by MCA in 1981 to provide student loans for higher education.

Ng, who quit MCA last Friday, claimed that the Kojadi board held an emergency meeting on June 27 and he was directed to meet the MACC the next day “to clarify our position and seek its direction and guidance”.

This is in light of MACC’s recent filing of civil forfeiture suits to recover funds linked to the controversial 1MDB (1Malaysia Develop­ment Bhd).

Ng is said to have insisted on returning a partial RM8mil while Dr Wee wanted to seek legal advice first.

In January, Kojadi had on its own accord informed the MACC regarding details of the grant.

The MACC wrote back, indicating that all matters relating to 1MDB were still under investigation.

Kojadi’s 11 board members is­sued a joint statement later on June 27 refuting Ng’s claim that the MCA leadership had interfered with their decision.

They also clarified that the board had decided to write to the MACC again to follow up on the matter, and to further discuss it with the party leadership.

Dr Wee said the 11 directors were also at Monday’s meeting and declared that they had voluntarily issued the joint statement.

“This has refuted the accusation that some of the directors were forced to sign the press statement,” he said, adding that Ng had called for an emergency Kojadi board meeting at the cooperative’s office at Wisma MCA.

“It is learned that only he and the secretary, who was there to oversee the preparation of the meeting, attended the meeting,” he added.

Dr Wee also noted that the Kojadi board members will continue to collaborate with its professional management team to develop the cooperative for the benefit of its 60,000 members.

“Kojadi is one of the 100 best performing cooperatives among the 14,000 cooperatives in the country, and it boasts a high level of performance efficiency and a low rate of non-performing loans,” he added.

Ng maintained that the board had, during the meeting on June 27, given him the authority to hand over the money received from 1MDB to the MACC.

In a statement issued yesterday, he also said that on May 4, 2017, he, as the Kojadi chairman, had signed the Corporate Integrity Pledge with the MACC and was duty-bound to disclose to the MACC “any money from questionable sources”.

Meanwhile Dr Wee along with his MIC counterpart Tan Sri S.A. Vigneswaran met with Datuk Seri Dr Ahmad Zahid Hamidi, in his office at the Putra World Trade Centre. The two hour meeting yesterday follows Ahmad Zahid’s resumption of duties as Barisan Nasional chairman.

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