By Clara ChooiKUALA LUMPUR, May 25 — MCA president Datuk Seri Dr Chua Soi Lek today confirmed the party had appointed his son, Chua Tee Yong and former vice-president Datuk Seri Dr Fong Chan Onn to assist in managing the party’s assets, estimated to be worth over RM2 billion.
Dr Chua said the decision had been endorsed by the party’s central committee after holding a five-hour meeting at Wisma MCA here.“The CC today decided that the asset management of MCA should be administered in a more professional manner.“That is why we believe that the party’s assets should be managed by a professional group separate from the MCA so there is separation of power. But at the same time, the management team is still accountable to the CC so they still have to report to us from time to time,” he told a press conference after the meeting.Dr Chua noted that the party’s most valuable asset was The Star newspaper, which at its height, he said, was worth up to RM1 billion.
“We do not have an exact figure (on the worth of the party’s assets) — people will give you all sorts of figures — but we know our biggest is The Star.
“Since The Star is a listed company and follows the market value, it could be worth about RM800 million today and at its height, up to RM1 billion.“Then, we also have Wisma MCA and other big investments,” he said. He explained that today’s appointments were to ensure that the party’s assets would be managed professionally and that there would be no abuse.
Source : http://www.themalaysianinsider.com/
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