12/04/2019 | Press release | Distributed by Public on 12/03/2019 22:35
THE GOVERNMENT WILL ALLOCATE RM40 MILLION FOR 2019 WHEN THE TRUST FUND OPERATED BY TUNKU ABDUL RAHMAN ALUMNI ASSOCIATION (TAA) IS APPROVED
The Finance Ministry announces that RM40 million for 2019 will be allocated to the trust fund operated by Tunku Abdul Rahman Alumni Association(TAA) when the trust fund is approved, expected to be by the end of this month. The government had earlier promised that at least RM30 million will be allocated every year for the proposed trust fund beginning from 2019, for the benefit of Tunku Abdul Rahman University College(TARUC) and its students. For this year, RM40 million will be allocated.
Apart from TAA, the proposed trustees will comprise one representative each from TARUC students and the Ministry of Finance. TAA is made up of former TARUC students who are outstanding successful professionals and business entrepreneurs. TAA believes in running TARUC as an educational institution professionally, that is independent and separate from political parties and politicians.
This RM40 million allocation will rebut once and for all lies by irresponsible elements that such an allocation is illegal. They have not explained why giving RM40 million for the benefit of TARUC students is illegal, but apparently not illegal the tens of billions of ringgit stolen from 1MDB. Amongst the beneficiaries of 1MDB funds are BN political parties like UMNO, MCA, SUPP, GERAKAN and MIC as well as MCA controlled co-operative KOJADI, causing their bank accounts to be frozen.
The RM40 million allocation will be handed over once the trust fund is set up. TAA should be given every opportunity to perform their duty and demonstrate how they can deliver on their term of reference to utilise the funds for the benefit of TARUC and the welfare of its students.
Lim Guan Eng
Minister of Finance
Ministry of Finance Malaysia
4 December 2019