Reference is hereby made to the publication of a news article in MalaysiaKini on Monday, Dec 16,2019 under the headline,"RM40 million grant for TAR UC transferred to trust fund today".
The said misleading article covered a press conference whereby it was announced that a RM40mil fund had been disbursed to and paid into the CIMB Berhad account of TAA Education Trust Fund, purportedly as a "grant for TAR UC" requires an immediate response from TARC Education Foundation's Board of Trustees (BOT).
With several DAP leaders at the press conference to announce the successful "transfer" of this RM40mil to TAA Education Trust Fund, the question arises as to whether DAP and TAA still believe in their clarion call to separate politics from education.
The BOT wishes to emphasise that the TAA Education Trust Fund is a private initiative company that has absolutely no relationship with TAR UC or TARC Education Foundation.
lt is just a company limited by guarantee with NO paid-up capital so far. This TAA Education Trust Fund's designated Nature of Business as revealed in an official search of Companies Commission Malaysia (SSM) records is "to receive, manage and administer funds for educational and other educational related funding purposes".
This also has nothing to do with their receiving and disbursing funds as a grant to TAR UC for its exclusive benefit and the benefit of its students.
On the contrary, its nature of business can be perceived as any ordinary business related to handling funds for any ordinary educational or related funding purposes.
The public is hereby urged to be wary of this distinction. At the same time, the BOT also takes strong objection to the said TAA Education Trust Fund registering with the Companies Commission Malaysia, their Place of Business as being at TAR UC's KL Main campus in Setapak.
The TAA Education Trust Fund must correct this abnormality immediately to dispel possible public misperception that they have direct relations with TAR UC or the TARC Education Foundation. There is no relationship whatsoever.
Finally, the BOT wishes to disavow any inside knowledge of the source of this RM40 million that was banked into the account of TAA Education Trust Fund, its legitimacy, purpose and the actual mechanism for its use.
Until enough light is shed on these issues, TAR UC and TARC Education Foundation cannot and will not receive any part of this money even though it is purported to be direct government funding for 2019.
Statement by TAR UC Board of Trustees.
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