After its inaugural meeting 10 years ago, the Chang Ming Thien Foundation (CMTF) board of trustees will hold a second formal meeting tomorrow after the RM10 million fund under its management hogged media headlines for the past few weeks.
The meeting is to be held at the Transport Ministry premises as minister Dr Ling Liong Sik also heads the CMTF board of seven members, a position by virtue that goes along with being president of MCA.
According to an MCA source, the meeting will be well attended and likely to include former MCA deputy president Lee Kim Sai, present party deputy Lim Ah Lek and Dr Sak Cheng Lum, a former deputy finance minister Wong See Wah and MCA executive secretary Lim Si Cheng, all appointed by the MCA central committee in August 1990.
MCA treasurer William Chek, who headed a three-member committee, had finalised a report on the controversial fund which was released in Penang on Sunday by Ling after a central committee meeting. The report was debat eatlength during the four-hour meeting.
The issue erupted in controversy with many questions raised by several organisations on the "fund" being dormant for 20 years.
Selangor Chinese Assembly Hall chairman Ngan Ching Wen yesterday said that MCA leaders should be held accountable for the RM10 million not being "properly utilised" to help needy students since the education fund was setup in 10 million not being properly utilised to help needy students since the education fund was setup in 1981.[#1]('Reasons for delay in education fund unacceptable'[/#], Oct30).
Chek's report had said that the delay of the fund was caused by, amChek's report had said that the delay of the fund was caused by, among others, the time taken by Bank Negara to approve the sale and purchase transaction of UMBC shares from General Holdings to Multi-Purpose Holdings,the death of the donor, Chang Ming Thien, the MCA leadership crisis between 1983 and 1985, and the collapse of the deposit-taking co-operatives.
However, the report did not mention about the lack of meetings being held by the board of trustees members, which incidentally, are also top past and present MCA leaders.
