This was in response to MCA president Datuk Seri Dr Wee Ka Siong’s statement on Sunday that the names of proposed new trustees had been submitted for over a month but had yet to be approved by Saifuddin’s ministry.
“It’s true, not just Ka Siong but I too discussed this with (TAR UC board of governors’ chairman Datuk Seri) Liow Tiong Lai, asking them to comply first with the conditions.
“In the constitution of the TARC Education Foundation, the condition is that 50% of the board members must be independent in order to enjoy tax exemptions,” he said.
“So in the discussion, I asked them to make some changes and they have presented the proposals.
“So we need some time to study it, but I choose to negotiate in a closed discussion, not through the media,” Saifuddin told reporters after launching AirAsia’s first flagship fast food restaurant at a mall here yesterday.
TAR UC is owned by the TARC Education Foundation, which comes under Saifuddin’s ministry through the Companies Commission of Malaysia (SSM).
On Sunday, Dr Wee said the four names had been submitted for over one month but had yet to receive approval, adding that the SSM had previously agreed for them to change their board members by December.