MCA will not ask Multi Purpose Holdings Berhad (MPHB) for the interest payable on the RM13.225 million Chang Ming Thien Fund (CMTF) in the past nine years for the moment, Dr Ling Liong Sik said today.

"In life, we do one thing at a time," the MCA president replied after being questioned by reporters on the lack of documents to support the "existing" interest on the RM13.225 million withheld by MPHB, the company entrusted to manage the fund, which gave a partial payment of RM4.375 million in 1990 to CMTF.

An accounts statement in the 1998/99 MPHB annual report showed that the original sum of RM10 million had earned RM7.6 million up till 1990 [#1](Group queries fund's 'missing' interest payment[/#], Oct 16).

Of the amount, RM4.375 million was given to CMTF and RM3.225 million was withheld by MPHB purportedly for tax purposes. Since then, the RM4.375 million which was put as fixed deposit had grown to RM7.85 million after earning further interest, according to a report in Nanyang Siang Pau [#2]('Reasons for delay in education fund unacceptable'[/#], Oct 30).

In an Oct 20 letter from MPHB executive director Lau Kim Khoon to MCA treasurer William Chek, Lau stated that "MPHB's position all along has been that it is prepared to pay the RM10 million to the foundation subject to any order that the court may make ... As we are appealing against the High Court's decision of Sept 30, we will await the outcome of the appeal before proceeding any further."

The High Court decision referred to was an order to MPHB to return the RM10 million to General Holdings, a company owned by the late Chang's family, with the stipulation that the money was to be used for "charity".

'Effecting his dream'

Ling, who is also the transport minister, spoke to the press today at his ministry after chairing the CMTF board of trustees' second meeting since it was established 10 years ago.

"The court case is going on, everything is frozen, no point (to hold the) meeting," Ling said when explaining why the board, currently comprising seven top MCA leaders, has not held any meeting for the past decade.

Today's meeting was attended by former MCA deputy president Lee Kim Sai, present party deputy Lim Ah Lek, Dr Sak Cheng Lum, former deputy finance minister Wong See Wah, MCA executive secretary Lim Si Cheng and secretary-general Ting Chew Peh.

MCA treasurer Chek, Lau Yin Pin and Leong Tang Chong, who formed the committee that recently completed the CMTF report, were also present, with CMTF secretary Oh Chong Peng.

On why MCA wanted to cooperate with MPHB to appeal against the High Court's decision, Ling said that the party thought that the late Chang had a very clear intention to allow MPHB to nominate the trustees to form a foundation in his name.

"We are effecting his dream," Ling said.

On the observation by certain quarters that MCA could not avoid responsibility for the fund being "inactive", Ling claimed that it just so happened that MCA members have been appointed as the fund's trustees.

Defending the assertion in the CMFT report that the fund was managed by MPHB, and "was never given to MCA to manage", and that MCA was just monitoring and offering the technical help to the fund, he said: "It is a clear difference."

Besides, he stressed, should they win the case, the fund would be used to finance education for the needy.