Nay Pyi Taw March 17
Daw Khin Kyi Foundation chaired by Daw Aung San Suu Kyi is established with six members in 2013. During the period from January 2013 to January 2021, a total of USD 7,900,647.71 (over USD 7.9 million) flowed into the three foreign currency accounts of the foundation from the donations made by locals and individuals and companies from Mongolia, Czech Republic, Taiwan, United States of America, South Korea, Japan, Italy, Turkey, Singapore, India and New Zealand and Suu Foundation from USA including over 900,000 Pound Sterling (USD 1.5 million) from RBC Trustees (UK) and 22 million Yuan (over USD 3.5 million) from Yunnan International Non-Governmental Organization (YINGO). The remaining balance in the accounts was USD 1,087,060.33 (over USD 1 million) as USD 6,813,587.38 (over USD 6.8 million) had already been drawn.
During the period, foreign and local donors, including 51 who contributed Ks-10 million, sent Ks-36,736,328,666.33 (over Ks-36.7 billion) to 13 MMK accounts. As the outgoing cash amount was
Ks-30,693,427,979 (over Ks-30.6 billion), the remaining balance was Ks-6,042,900,687.33 (over Ks-6.04 billion). It is found that the total remaining balance in the eight current
accounts opened at Myanmar Economic Bank (Kawhmu), Cooperative Bank (CB), Ayeyarwady Bank (AYA),United Amara Bank (UAB) and Kanbawza Bank(KBZ) was Ks-17,824,185 (over Ks-17.8 million ).
Of the expenditures, a total of Ks-3717.123 million (over Ks-3.71 billion) was spent for buildings and facilities constructed by Thiha Min Swe Company and for buying 101.33 acres of land for La Yaung Taw Horticulture Training Academy (HTA) and facility site and 23.855 acres of land for practical cultivation field in Nay Pyi Taw.
Daw Khin Kyi Foundation hired the building and land of Yangon Region Government at No 60 on University Avenue, Bahan Township at a monthly fee of Ks-1.5 million under a five-year contract from 22 January 2019 to 21 January 2024. According to the finding of The Union Auditor-General’s Office, there was a yearly financial loss of Ks-2,607.10 million (Ks-2.6 billion) based on the standard rate on the current price in the townships of Yangon Region of the Internal Revenue Department for 2018-2019 financial year; and according to the property rental rate in March 2021 of the real estate rental industry, the annual financial loss was Ks- 1,440.389 million (Ks -1.4 billion).
The 2018 directive of the Presi-dent’s Office said that the rental rate should be fixed in accord with
the current price of the area where the State-owned property was located, and if it was a priority program for the increase in the country’s investment and supporting the national economy, a reduction should be considered in fixing rental rate in accord with the current price. But the directive is not concerned with a social organization.
As regards the permission granted to the La Yaung Taw Horticulture Training Academy (HTA) in Nay Pyi Taw, the facility site and practical cultivation field to buy land at a rate of Ks-5 million per acre, the Auditor-General’s Office found the foundation was relieved from paying Ks- 26,437.675 million (Ks- 26.43 billion) based on the main street rate and Ks- 18,151.825 million (Ks- 18.15 billion) based on inner road rate of the IRD applied in five townships of Nay Pyi Taw Union Territory.
According to the revelation of Thiha Min Swe Company, the one storey L-shape facility site of 105x64 feet and 144x56 feet at HTA in Nay Pyi Taw was built on the land owned by the foundation by spending Ks- 1.06 billion for a residence of Daw Aung San Suu Kyi and intended to be used as a museum later.
Therefore, the loss of appropriate fees for using the state-owned land and building, a residence for the chairperson of the foundation by spending the donations of the foundation amounted to spending the funds that is not directly related to the initial objectives of the foundation such as enhancement of health, education and social lives of the public, according to the findings of the Union Auditor-General’s Office. An investigation is being launched into the donations received, expen-diture and balance of Daw Khin Kyi Foundation and further details will be released on completion of the investigation.