A Tunku Abdul Rahman University College student group TARANY has revealed that MCA outsourced the management of TARUC hostel to Delta Pride (M) Sdn Bhd, which is wholly owned by MCA. This proves that MCA benefitted directly from TARUC, I urge MCA President Wee Ka Siong to come clean to the public especially the Chinese community who have donated to TARUC how many other contracts have MCA received from TARUC?
The largest shareholder of Delta Pride (M) Sdn Bhd (9,998 shares) is MCA. While the remaining two shares are nominally held by the former MCA President Liow Tiong Lai and former MCA Secretary General Ong Ka Chuan respectively.
The nine directors of Delta Pride (M) Sdn Bhd are MCA National Organising Secretary Ling Tian Soon, MCA National Deputy Organising Secretary Leaw Kok Chan, MCA Deputy Treasurer General Low Ah Keong, former MCA Setiawangsa Division Chairman Ho Yoon Ping, MCA Batu Sapi Division Chairman Chew Kok Woh, MCA Central Committee member Chua Seong Hen, MCA Wangsa Maju Division Chairman Ng How Doo, MCA Sabah State Chairman Lu Yen Tung, MCA Malacca State Organising Secretary Ngwe Hee Sem. The company secretary is Ong Whee Tiong who is also the secretary of TARC Education Foundation (TARC EF).
MCA President Wee Ka Siong must explain why all the appointed directors of Delta Pride (M) Sdn Bhd are prominent MCA leaders and disclose the amount of director remuneration received by all these MCA leaders every month. During the financial year ending 2018, Delta Pride (M) Sdn Bhd recorded a revenue of RM4.68 million and make a profit of RM1 million after tax, and the retained earnings is as high as RM11.42 million.
Since TARUC is a non-profit organisation and also a foundation with tax exempt status, if TARUC administration runs the hostel on its own, all the accumulated profit (retained earnings) will not only be tax exempt, but could also be used to reinvest to renovate and upgrade the school hostel facilities. However MCA chose to outsource TARUC hostel management contract to its wholly owned private company which is a way to siphon out the profit from TARUC at the expense of TARUC students benefit.
Wee Ka Siong has previously boasted to the Chinese community that MCA has never taken a single cent from TARUC. TARUC hostel management contract which is awarded to a MCA Private company is proof that Wee Ka Siong lied to the Chinese community that MCA has never taken a single cent from TARUC. Since its inception in 1972, all TARUC campus and buildings construction contract were awarded to MCA’s companies and MCA cronies.
I urge Wee Ka Siong to stop denying the undeniable. It is proven that MCA has been making money from TARUC at the expense of poor Chinese Students. I urge Wee Ka Siong to make public all the TARUC contracts which are directly awarded to MCA companies and cronies.
Most of the TARUC funds come from public donations and government grants and allocation. It is morally wrong for MCA to outsource the hostel management to a MCA owned company and profit from it.
Media Statement by DAP Perak Publicity Secretary and State Assemblyman for Keranji Chong Zhemin on 25th December 2019