MCA president Wee Ka Siong has been accused of preventing the Koperasi Jayadiri Malaysia Berhad (Kojadi) chairman from meeting anti-graft authorities to declare RM15 million received from Yayasan 1Malaysia Development Bhd in 2012.

Kojadi chairman Ng Peng Hay, who was a member of MCA until now, said the board had agreed that he should meet with the Malaysian Anti-Corruption Commission (MACC) today in light of its recent filing of civil forfeiture suits to recover 1MDB funds.

He said the Kojadi board had held an emergency meeting yesterday during which the board directed him to meet MACC today “to clarify our position and seek its direction and guidance”. 

“However, before I could secure an appointment with MACC, the president of MCA issued instructions to all directors of Kojadi via social media to stop this meeting with MACC and to meet with party leaders (first).

“I object to this interference by the MCA president in the day-to-day running of Kojadi,” Ng said in a statement today.

The Malaysian Insight has contacted Wee, who replied that he was currently in Indonesia attending a conference.

Ng said the meeting with Kojadi directors that Wee had asked for is scheduled for Monday or Tuesday.

Ng said the RM15 million that Kojadi had received from Yayasan 1MDB was for a micro-credit scheme for youth and has been disbursed to more than 1,200 small enterprises as micro-credit loans.

“As of today RM1.72 million of the grant has been written off as bad debts, RM1.03 million was paid as tax to the authorities, and about RM8.06million is held in cash,” Ng said. 

He said following MACC’s announcement of its civil forfeiture suit against 41 respondents over 1MDB funds, and the report that more names would be revealed, he had decided to call for an emergency board meeting of Kojadi directors yesterday.

“In view of the RM15 million financial grant from Yayasan 1MDB, I tabled a proposal to the Board meeting to  return the aforesaid financial grant from Yayasan 1MDB.

“My intention is to safeguard the interests of Kojadi, its 60,000 members and staff as any civil forfeiture process against Kojadi could adversely impact the operation of Kojadi and affect its 60000 members and the livelihood of over 50 staff,” he said.

Ng added that he has resigned his MCA membership as a mark of protest against Wee’s interference. 

“I will call for another emergency board meeting of Kojadi to re-table my proposal to refund the  financial grant from Yayasan 1MDB.”

Kojadi was formed by MCA in 1981 to provide student loans for higher education. – June 28, 2019.