Koperasi Jayadiri Sdn Bhd (Kojadi) has written to the Malaysian Anti-Corruption Commission (MACC) regarding details of a RM15mil grant received by the cooperative from Yayasan 1MDB in 2012 to provide microcredit for the youth, said Datuk Seri Dr Wee Ka Siong.
The MCA president said that under current laws, funding could be received in forms of grants, although this must first be approved by the Cooperatives Commission.
“And this was approved,” he told reporters at the Parliament lobby yesterday.
“However, now this government is saying that the funding is a form of income,” he added.
He said the cooperative, formed by MCA in 1981 to provide loans for higher education, had already paid RM1.03mil in income tax to the Finance Ministry.
Dr Wee, in an earlier report, had questioned how the money Kojadi received from Yayasan 1MDB was considered illegal when RM1.03mil was already paid as income tax.
“If it paid taxes, how is the fund illegal?” he asked.
He added that funds from Yayasan 1MDB had helped millions of Malaysians, with recipients including over 57,000 fishermen, thousands who performed the haj and umrah, farmers and UEC scholars.
“Will these recipients be asked to return the money? They are all from the same source,” he said.
Dr Wee also asked why the focus was on Yayasan 1MDB when the funding could also come from corporate sectors.
“I am disappointed by all the assumptions made by the Finance Minister,” said Dr Wee, who called the allegations “malicious”.
He also said the accusations made by Finance Minister Lim Guan Eng were baseless, refuting claims that the funds from Yayasan 1MDB were derived from former prime minister Datuk Seri Najib Razak’s personal account.
“The funds from Yayasan 1MDB came from many sources ... It is not from Najib’s account.
“Guan Eng should ask the Kojadi board members,” he added.
Dr Wee said the MACC’s recent filing of civil forfeiture suits to recover funds linked to 1MDB was in relation to SRC International Sdn Bhd and Najib’s personal account.
In the Dewan earlier, Lim had said that the government would look into possibilities that Kojadi received other sources of funding under the Finance Ministry during the previous Barisan Nasional administration.