KUALA LUMPUR: Suggestions for MCA to relinquish ownership of Tunku Abdul Rahman University College (TAR UC) and Universiti Tunku Abdul Rahman (UTAR) are absurd, says its president Datuk Seri Dr Wee Ka Siong (pic).MCA set up the then Tunku Abdul Rahman College (TARC) in the late 1960’s to offer education opportunities to low and middle income families, he said.Finance Minister Lim Guan Eng had insisted MCA break off ties with both institutions before the government provides more allocation for the two institutions.Dr Wee said TAR UC (the new name for TARC) has educated a large alumni of 200,000 graduates and its current student population stood at 28,000.“For Lim to suggest MCA to cut ties with TAR UC, is ridiculous,” he told reporters in Parliament’s lobby.Dr Wee said the performances and contributions of TAR UC and UTAR are for all to see.He said both institutions had produced a lot of local talent, including politicians from both sides of the political divide.Dr Wee added UTAR is the second highest locally-ranked varsity according to the Times Higher Education (THE) Asia University Rankings 2018.The Ayer Hitam MP also said MCA had not interfered in the operations and that the institutions enjoyed academic independence.At the same time, Dr Wee said TAR UC had its accounts audited and scrutinised by professional firms and the government each year.Dr Wee pointed out that Lim's revelation on TAR UC's accounts, which had included interests from fixed deposits (FD) of RM20.94mil in the university's operating income was inappropriate.He said interest from the FD was preserving the real value of the reserve fund,“In other words, the FD interests helps to beat inflation. It should be considered as non-operating income,” he said.If TAR UC had spent its FD interest, Dr Wee said, it would only mean that the university is spending its funds reserved for future developments.This practice is unhealthy and will affect the financial standing of TAR UC in the long run, he added.Without mincing his words, Dr Wee suggested that Lim focus on pressing issues rather than abusing his power and ministerial position to victimise the opposition.“Please focus on restoring investors confidence in Malaysia and help bring in more revenue rather than creating chaos,” he added.Lim had announced the government would only allocate a RM5.5mil development fund for TAR UC. He said the RM30mil matching grant for TAR UC will not be given.