KUALA LUMPUR, Nov 14 — MCA president Datuk Seri Wee Ka Siong has rejected a DAP leader’s claim that Tunku Abdul Rahman University College (TARUC) was cash rich.
He said the 2018 financials cited included a RM30 million allocation from the Barisan Nasional government then and RM45 million from a land sale.
He said neither was related to TARUC’s cash flow, which he insisted was RM11 million in deficit.
“The deficit of income over expenditures we have is RM11 million.
“Where to get the RM 11 million? You don’t want us to ask the students to beg for donations. That is why we have the endowment fund.
“What they say about the RM97 million is not telling the whole story,” he told reporters at a press conference in Parliament today.
Today, Sin Chew reported DAP assemblyman Chong Zhe Min as claiming that TARUC had a net cash surplus of RM97.22 million in 2018.
Chong reportedly said that there should be no reason for TARUC and Wee to raise the fees for students.
In Budget 2018, TARUC received a RM30 million matching grant. Finance Minister Lim Guan Eng announced RM5.5 million for TARUC’s development fund in 2019.
He cut this to RM1 million in Budget 2020.
