Govt to allocate RM40m for TAA trust fund in 2019


THE Finance Ministry (MoF) is allocating RM40 million for the trust fund operated by TARCian Alumni Association (TAA) once the amount is approved by the end of this month.

Finance Minister Lim Guan Eng (picture) said the government promised earlier that at least RM30 million will be allocated annually for the proposed trust fund beginning 2019 for 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 MoF.

“TAA is made up of former TARUC students who are outstanding and successful professionals and business entrepreneurs,” he said in a statement yesterday.

He said the alumni believes in running the institution professionally, independent from political parties and politicians.

“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,” he said.

Lim added that the 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 the tens of billions of ringgit stolen from 1Malaysia Development Bhd is not illegal,” he said.