GEORGE TOWN: DAP today handed the RM1million bail money used in Finance Minister Lim Guan Eng’s corruption case to the Penang Future Foundation (PFF) for its full scholarship programme.
“The state government is concerned over the outflow of talented local youngsters,” state DAP deputy chairman Jagdeep Singh Deo told a press conference on the sidelines of the state legislative assembly sitting here today.
“We believe they are an important commodity to the state.
“Hence, we decided to hand over the bail money to PFF, as a way of fulfilling the state’s development agenda and to ensure that local talents are continuously given attention.”
PFF was established by the state government in 2015 to help talented students pursue higher education in science, technology, engineering and accounting.
Lim was charged at the Penang High Court here in 2016 with two counts of corruption over alleged conversion of land status in 2014 and purchase of a bungalow below market value in 2015.
DAP launched a campaign to raise funds for the RM1 million bail.
The Penang High Court acquitted Lim of two corruption charges earlier this year.
The court also acquitted businesswoman Phang Li Koon of the charge of abetting Lim in obtaining the bungalow at an undervalued cost.