Disclosure of TBH Trust Fund audited accounts 2009 & 2010 in line with principles of Accountability and Transparency

http://dapmalaysia.org

Media statement by Teo Nie Ching trustee for the Teoh Beng Hock Trust Fund and MP for Serdang in Kuala Lumpur on Thursday, 7^th June 2012:

Disclosure of TBH Trust Fund audited accounts 2009 & 2010 in line with principles of Accountability and Transparency

The Teoh Beng Hock Trust Fund was constituted pursuant to the execution of a Trust Deed dated 23 July 2009 among Ean Yong Hiah Wah as the representative of the donors, and Soh Cher Wei and myself as the trustees. The Trust Fund was established for the benefit of the unborn child of the late Teoh Beng Hock and Soh Cher Wei.

It was stated in the Trust Deed that it is the duty and responsibility of the trustees to close the accounts of the Trust on the 31st day of December of every year and then the accounts shall be audited by a qualified accountant appointed by the Trustees.

We are pleased to announce that audited accounts for the Trust Fund for 2009 and 2010 is now ready. Believing in the principle of credibility, accountability and transparency, we have now uploaded the account to our website (www.dapmalaysia.org) and members of the public can access and view the audited accounts prepared by chartered accountants appointed by the trustees.

As at 23 May 2012, donations for Teoh Beng Hock Trust Fund totalled RM523,274.98 while disbursement for living expenses of Beng Hock's son Er Jia amounted to RM49,247.65.

RM30,004.40 was disbursed for purchasing education insurance for Er Jia (with payments in 2011 and 2012 amounting to RM15,002.25 and 15,002.15 respectively) and also RM3,602.15 for purchase of medical insurance.

The purpose of purchasing the education insurance is to ensure that Er Jia be able to afford his education expenses by the time he reaches 18 years old. Currently, RM15,010 is being paid annually for 15 years, whereby the total payment will amount to RM225,001.50.

As for the insurance scheme, the expected returns upon maturity is estimated to be approximately RM330,177 to RM407,470 as it is a long-term investment.

Date	EXPENSE ITEMS	AMOUNT
3-Oct-2009	Allowance for Cher Wee for monthly maternity check up	2000.00
2-Oct-2009	Supplements for Cher Wee	186.90
2-Feb-2010	Cord Blood Bank	4,500.00
2-Feb-2010	Monthly Allowance for Er Jia (Feb till April 2010)	2,002.15
4-Mar-2010	Inpatient Bill - Pantai Hospital, Batu Pahat	2,549.85
16-Jun-2010	Monthly Allowance for Er Jia (May till December 2010)	8,002.15
11-Oct-2010	Monthly Allowance for Er Jia (Jan till June 2011)	6,002.15
25-May-2011	Monthly Allowance for Er Jia (July till December 2011)	6,002.15
23-Nov-2011	Monthly Allowance for Er Jia (Jan 2012 till June 2012)	9,000.15
18-Apr-2012	Monthly Allowance for Er Jia (July 2012 till December 2012)	9002.15
Total		49,247.65

Closing Balance as at 23 May 2012	440,420.78
Expenses	49,247.65
Education Insurance 2011	15,002.25
Medical Card 2011	3,602.15
Education Insurance 2012	15,002.15
TOTAL	523,274.98

The above details of the family's expenses can also be found at: http://www.wretch.cc/blog/teonieching/21689692. Once the audited accounts for the year 2011 is ready, we will also upload it for public viewing.

The Trust Fund continues to receive donations from concerned, caring Malaysians, with the majority of donors preferring to remain anonymous. On behalf of Teoh Beng Hock's family and DAP, I wish to express my gratitude for their kind deeds and promise to administer the funds properly.

We are still waiting, and we will continue to wait, for Justice for Beng Hock.

Teoh Beng Hock Trust Fund Account - 2009

Teoh Beng Hock Trust Fund Account - 2010

Teo Nie Ching, trustee for the Teoh Beng Hock Trust Fund and MP for Serdang