He denied that the RM30 million trust fund could only be used on condition that MCA relinquished ownership of the college.However, the money could be channelled directly to the college if MCA gaves up ownership and control of the administration

“I want to stress that the allocation of at least RM30 million a year is not for saving in a bank account but for use for the benefit TAR UC and its students. The RM30 million is not to be left in the trust fund as savings to earn interest,” he said at a media conference together with officials of the alumni association.

Lim said the association is not controlled by the government or any Pakatan Harapan political party but comprised successful former students and a representative of the Finance Ministry.

He said the allocation, announced yesterday, had been approved by members of the Cabinet.

The president of the alumni association, Yap Kuak Fong, said the trust fund will be under the leadership of a senior legal advisor who would set up a non-profit company limited by guarantee with a diverse representation.

MCA publicity deputy chairman Mike Chong Yew Chuan has questioned why the fund is being channeled into the TAR Alumni Association, as opposed to the other registered alumni association, the Federation of TAR Student Alumni.