Wee Ka Siong denies Kojadi funds were returned to MoF

13 Jul 2019 / 16:30 H.

KUALA LUMPUR: MCA president Datuk Seri Dr Wee Ka Siong (pix) today denied that the funds given to its cooperatives business Kojadi have been returned to the government.

“I can confirm that we have not returned any money. We are currently following the legal process after it is being investigated by the necessary authorities,“ he said at a press conference after launching the Belt and Road initiative talk at Wisma MCA today.

He also questioned why Kojadi president Datuk Ng Peng Hay was praised by Finance Minister Lim Guan Eng in his latest statement that some RM900 million of 1MDB funds had been returned to the Ministry of Finance (MoF).

“Perhaps he was trying to make up for his mistake of saying RM6.1 million of Kojadi’s funds were returned, when in actual fact the money was returned by other parties,“ he said.

He further reiterated the RM15 million received were from Yayasan 1MDB, not from 1MDB, SRC International or from former prime minister Datuk Seri Najib Abdul Razak’s personal bank account.

“I would like to reiterate that we received notice from the MACC that although they were investigating Kojadi’s accounts, they did not say they are investigating it because it is related to 1MDB,“ he said.

He stressed that Kojadi is a separate entity, a cooperatives business that is made up of business people of various backgrounds, while MCA is a political party made up of Chinese Malaysians.

“People must be able to differentiate that although a MCA member can invest in Kojadi, not all Kojadi members can automatically become MCA members, therefore, it is inaccurate to say that MCA and Kojadi are intertwined,“ he added.

He also lamented the MoF’s previous decision to cancel Kojadi’s RM50 million allocation even though it was already approved by Parliament at the Dewan Rakyat and Dewan Negara level last year.

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