WE refer to the news article at the Malaysiakini news portal on Dec 16 under the headline “RM40 million grant for TAR UC transferred to trust fund today”.
The article reported on a press conference at which it was announced that RM40mil had been disbursed to and paid into the CIMB Bhd account of the TAA (TARCian Alumni Association) Education Trust Fund, purportedly as a “grant” for Tunku Abdul Rahman University College (TAR UC). The article requires an immediate response from the TARC Education Foundation Board of Trustees (BOT).
With several DAP leaders at the press conference to announce the successful “transfer” of this RM40mil to the 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 TARC Education Foundation BOT wishes to emphasise that the TAA Education Trust Fund is a private initiative company that has absolutely no relationship with TAR UC or the TARC Education Foundation. It is just a company limited by guarantee with no paid-up capital so far.
The TAA Education Trust Fund’s designated Nature of Business as revealed in an official search of the Companies Commission of Malaysia’s records is, “To receive, manage and administer funds for educational and other educational related funding purposes”. This 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 TARC Education Foundation BOT also takes strong objection to the TAA Education Trust Fund registering with the Companies Commission Malaysia that their place of business is at TAR UC’s Kuala Lumpur main campus in Setapak.
The TAA Education Trust Fund must correct this abnormality immediately to dispel possible public misperception that they have a direct relationship with TAR UC or the TARC Education Foundation. There is no relationship whatsoever.
Finally, the TARC Education Foundation BOT wishes to disavow any inside knowledge of the source of this RM40mil 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 the 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.
TARC EDUCATION FOUNDATION BOARD OF TRUSTEES
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