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Do We Need To Sell Land To Raise Fund?

Arun Doraisamy Asks

It’s a big mistake and not a smart move Tan Sri Dr K. Ambigaipagan, said Arun Doraisamy. He also commented that the public should have been given an opportunity to formulate ideas and strategies to show their responsibility towards community.

I believe many would have heard Dr K. Ambigaipagan’s justification on BFM. It’s an embarrassment for such a calibre person and his Trust’s incompetency by trading our community’s identity. He failed to reach out to public and corporate as I believe he won’t be able to recall any fund raising event by his Trust to seek for donation. His Trust doesn’t own a professional website and how he is expecting the people to donate.

Have we heard Chinese school sold their school land to sustain? Dr Ambiga could have easily merged with other community iconic movement like SMC to increase its significant. Can Dr.Ambiga be transparent on fund allocation and projections model for the other schools which requires the fund to sustain.

Did Dr Ambiga consider these options?

  1. Why sell the property, instead he could have lease it for 99 years, which would have ensured continuous incomes.
  2. Why he did not consider of mortgaging the property as it is been told that the property is worth of RM25 Million and with the amount, his Trust could have re-invest through a fund manager for continuous stable income. This would have ensured of at least of RM 2.5 Million residual annual income to sustain the schools. Considering the potential growth of the loaction, RM25 Million is too cheap for the property.

If I could come up with such ideas, a comprehensive research could have been instituted with some brand academicians and businessman to ensure this property stays as a Hindu icon. Thus deliver its obligation to educate and fund the rest of the Tamil schools. Dr.Ambiga, are you ready?

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