Media Statement by Ong Whee Tiong, Secretary of TARC Education Foundation

IT IS A COMMON MISCONCEPTION THAT MANY PEOPLE INCLUDING THE MINISTER OF FINANCE THINK THAT TAR UC BELONG TO MCA.

FOR THOSE WHO ARE IGNORANT, TAR UC IS WHOLLY OWNED BY TARC EDUCATION FOUNDATION ("TEF"), A PUBLIC COMPANY LIMITED BY GUARANTEE AND CLOSELY MONITORED BY 3 MINISTRIES, ie: MINISTRY OF DOMESTIC TRADE AND CONSUMER AFFAIRS, MINISTRY OF EDUCATION ("MOE") AND THE MINISTRY OF FINANCE ("MOF") VIA THE INLAND REVENUE BOARD.

HENCE, ONE CAN SAY THAT IT IS A VERY CLOSELY AND HIGHLY REGULATED ENTITY. BESIDES, BEING A PUBLIC COMPANY, IT HAS TO COMPLY WITH HIGH INTERNATIONAL ACCOUNTING STANDARDS IN ITS PREPARATION OF FINANCIAL STATEMENTS. SO FOR THOSE WHO QUESTION ITS GOVERNANCE PRACTICE THEY MUST BE TOTALLY IGNORANT OF WHAT WAS HAPPENING AT TAR UC OR THEIR UNDERSTANDING MUST BE LACKING..

THERE ARE 4 LAYERS OF GOVERNANCE IN TAR UC, FIRSTLY THERE IS A CHIEF EXECUTIVE OFFICER ("CEO") WHOSE APPOINTMENT MUST BE APPROVED BY THE MINISTRY OF EDUCATION AND UNDER THE ACT 555, HE IS SOLELY RESPONSIBLE FOR THE OPERATION OF THE TAR UC GUIDED BY THE BOARD OF GOVERNORS (WHICH INCLUDES 5 REPRESENTATIVES FROM THE MOE AND 1 FROM THE MOF)

WHICH IS THE 2ND LAYER OF GOVERNANCE IN ACCORDANCE WITH THE CONSTITUTION OF TAR UC. THE CEO AND THE BOARD OF GOVERNORS ARE THEREFOR MAINLY RESPONSIBLE FOR THE DAY TO DAY OPERATION OF THE INSTITUTION.

THE 3RD LAYER OF GOVERNANCE CONSISTED OF THE TRUSTEES WHOSE POSITION ARE SIMILAR TO THAT OF DIRECTORS (THEY ARE KNOWN AS TRUSTEES BECAUSE TEF IS A NOT FOR PROFIT FOUNDATION) AND THEY ARE PRIMARILY RESPONSIBLE FOR THE STATUTORY COMPLIANCE WITH THE COMPANIES ACT 2016, INCOME TAX ACT 1967, PRIVATE HIGHER EDUCATIONAL INSTITUTIONS ACT 1996 (ACT 555) AND OTHER RELEVANT ACTS

FOLLOWED BY THE 4TH LAYER OF GOVERNANCE WHICH CONSISTED OF MEMBERS OF THE FOUNDATION.

IT MUST BE EMPHASIZED THAT THE TRUSTEES AND MEMBERS DO NOT RECEIVE ANY BENEFITS AT ALL AND ARE PERFORMING THEIR DUTIES ON A STRICTLY VOLUNTARY BASIS TO ENSURE THAT THE OBJECTIVES OF THE FOUNDATION ARE BEING CARRIED OUT AND NOT DERAILED BY THOSE WITH ULTERIOR MOTIVES.

NOW WHO OWNS TAR UC? THERE EXIST A CONDITION IMPOSED IN THE FOUNDATION'S CONSTITUTION WHICH STIPULATES THAT IF THE FOUNDATION WOULD TO BE WOUND UP (MEANING CLOSED SHOP IN LAYMAN LANGUAGE) ALL ITS ASSETS MUST BE DONATED TO THE GOVERNMENT OR ANOTHER FOUNDATION APPROVED BY THE INLAND REVENUE BOARD. HENCE THE REAL BENEFICIAL OWNERS ARE THE GOVERNMENT AND / OR THE PUBLIC AND NOT THE FOUNDERS OF THE FOUNDATION.

THE FOUNDERS AND SUBSEQUENT TRUSTEES ARE ONLY ACTING AS TRUSTEES. TAR UC HAD TO-DATE TRAINED MORE THAN 200,000 PROFESSIONALS AND THE BULK HAD REMAIN IN MALAYSIA TO CONTRIBUTE TO NATION BUILDING INSTEAD OF MIGRATING OVERSEAS.

THE GOVERNMENT SHOULD BY RIGHT REWARD TAR UC BY INCREASING THE MATCHING GRANT SO THAT MORE QUALIFIED PROFESSIONALS COULD BE TRAINED TO ASSIST IN NATION BUILDING INSTEAD OF PENALISING TAR UC. IF THE GOVERNMENT IS SINCERE IN MAKING MALAYSIA THE CENTRE OF EDUCATIONAL EXCELLENCE, PENALISING TAR UC IS TOTALLY INCORRECT AND UNDESIRABLE.

IN CONCLUSION, I WISH TO EMPHASIZE THAT TEF AND MANY OTHER FOUNDATIONS AND NGOS WERE FORMED TO ASSIST THE GOVERNMENT OF THE DAY TO FULFIL ITS SOCIAL OBLIGATIONS AND RESPONSIBILITIES WHICH THE GOVERNMENT WAS UNABLE TO FULFIL ITSELF.

HENCE THE GOVERNMENT OF THE DAY SHOULD GO ALL OUT TO FACILITATE RATHER THAN CREATING MANY UNNECESSARY RULES AND AT TIMES INCOMPREHENSIBLE RULES TO DISCOURAGE THESE FOUNDATIONS AND NGOS. IN VIEW OF THE ABOVE, I HOPE GOOD SENSE WOULD PREVAIL AND THE GOVERNMENT WOULD RECONSIDER TO REINSTATE THE MATCHING GRANT TO TAR UC, MY ALMA MATER.

From
Ong Whee Tiong.
Secretary of TARC Education Foundation & ex-TARCIAN

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