The revelation by a MCA divisional leader that the party owns RM2 billion worth of assets has Bintulu MP and tycoon Tiong King Sing all riled up.

This is because the party approached him for help in order to secure the use of eight four-storey shoplots for MCA-owned Tunku Abdul Rahman (TAR) College campus in Penampang, Sabah.

Based on the tenancy agreement, TAR College only needs to pay Tiong's company Wawasan Sdn Bhd a nominal fee of RM1 monthly for all units.

NONE Speaking to Malaysiakini at his office in Petaling Jaya today, Tiong ( right ) said he had allowed the deal to go through in order to help MCA in its pursuit to provide affordable education.

Now, Tiong is feeling deceived after reading China Press' report quoting Setiawangsa division MCA head Ho Yoon Ping's boast that the party had RM2 billion in assets.

Given the party's financial standings, Ho said it made no sense for the party or its president Ong Tee Keat to seek RM10 million in donations from Tiong.

NONE

"In a way, I have found out that I have been cheated," said Tiong, "They are so rich (with) RM2 billion in assets and they tell me they are poor."

"When they came to see me, they said that MCA had no money and couldn't pay me (rent) or it would be charged on the students. I said ‘okay', especially since the economy was not good at the time.

"I wanted to help reduce cost for the student and at the same time help to promote education.

"Do you think that by giving, I'm begging Utar (Universiti Tunku Abdul Rahman) for a doctorate?" asked Tiong.

Tiong vs Ong

Adding insult to injury was the fact that Tiong's company spent RM200,000 to refurbish the buildings before they were handed over.

The tenancy agreement, sighted by Malaysiakini , showed that the deal was inked in 2007 and is set to expire in six months.

NONE "No need to worry, it is still a long way to go," said Tiong, when asked if he would still extend the tenancy agreement based on status quo.

He said he will take time to consider if the building should be rented to other causes.

Meanwhile, Tiong said he was not trying to find fault with MCA members who are trying to protect their party president Ong Tee Kiat ( left ).

However, Tiong said that if he is hit with accusations, he had the right to reply as in Ho's case.

"I urge all the members. Please stop it. Let me (slug it out) with your president," he said.

THE TIONG INTERVIEW

Part 1

RM1 rental: Tiong feels 'conned' by MCA

Part 2

I'm not BN's ATM, says deep pocket MP

Q&A: PKFZ sizzled like 'koay teow'

Part 3

Tiong on Najib, wife and girlfriend

Q&A: What do I get by toppling him?