Press release on findings from investigation into Daw Khin Kyi Foundation

Daw Khin Kyi Foundation, chaired by Daw Aung San Suu Kyi, was established with six members in 2013, and since January, and it is found that from January 2013 to January 2021, US$7,900,647.71 (over US$7.9 million) had flowed into the foundation’s three foreign currency accounts with the donations from foreign NGOs and INGOs including US1.5 million (over 900,000 Pound sterling) from RBC Trustees (UK) from England, and over US$ 1.5 million (22 million yuan) from Yunnan International Non-Government Organization (YINGOs) of China, and the donations from companies and private donors including the Suu Foundation in the US, Mongolia, the Czech Republic, South Korea, Japan, Italy, Turkey, Singapore, India, New Zealand and Taiwan. Over US$6.8 million have been withdrawn, and over US$1 million is kept saving.
During that period, a total of over K36.7 billion donated by 51 donors at home and abroad has flowed into 13 Myanmar currency accounts. Of them, over K30.6 billion were withdrawn, and over K6.04 billion is still kept in savings now.
Besides, over K17.8 million are found in total at the foundation’s eight bank accounts at the Myanma Economic Bank (Kawhmu), the Cooperatives Bank (CB), the Ayeyawady Bank (AYA), the United Amara Bank-UAB and the KBZ Bank.
Regarding the spending, it is found that over K3.71 billion were spent on the construction of buildings and other related facilities built by Thiha Minswe Company for La Yaung Taw Horticultural Training Academy in Nay Pyi Taw, including the cost for 101.33 acres for HTA building and related facilities, and 23.855 acres of practical plantation.
The Daw Khin Kyi Foundation hired the land and building at No. 60, Takatho Yeiktha Road, Bahan Township, of the Yangon Region Government at K1.5 million per month for a five-year contract from 22 January 2019 to 21 January 2024 and opened its head office there.
According to the Union Auditor-General Office, if the hire of the land and building for the foundation in Yangon is calculated following the standards and taxation for the 2018-2019 financial year of the Internal Revenue Department, the hire of the land and building causes a loss of K2.607 billion per year. Similarly, if the hire of land and building is calculated at the rate of the private real estate businesses in March 2021, the hire causes a loss of K1.4 billion per year.
When a fee for the hire of land or building is decided, the cost shall be set at a street value in an area where a state-owned land and building is located, but the fee calculated at a street value rate can be underestimated if the hire of a project is considered priorities for the development of the country’s economy and investment, said a directive of the Office of President in 2018. However, it is found that the directive is not concerned with a non-governmental or social organization.

According to the Union Auditor-General Office, it is found that the buying of land for the La Yaung Taw Horticultural Academy and Facility Site in Nay Pyi Taw at K5 million per acre rate causes a loss of K26.43 billion if calculated at the taxation rate over land sales for the wide road project set by the Nay Pyi Taw Thiri-5 Township Revenue Department of the Internal Revenue Department for the 2018-19 financial year and causes a loss of K18.15 billion if calculated at a rate for an inner road project.
When the investigation was taken into the construction of a one-storey L-shape facility site-building measuring at 105ftx64ft and 144ftx56ft for the La Yaung Taw Horticulture Training Academy-HTA in Nay Pyi Taw, Thiha Min Swe Company confessed that the building was constructed at the cost of K1.06 billion for Daw Aung San Suu Kyi on the land owned by the foundation. The building is intended to be used as a museum in the future.
Hence, it is found that the State did not earn the fee it deserves for using the land owned by the State. The construction of a building with finance from the foundation for the chair of the foundation has deviated from the foundation’s objective, which pledges to uplift the people’s health, education, and socio-economy.
Further extensive investigation is being conducted into the Daw Khin Kyi Foundation’s cash flow, expenditure, and savings. More formation will be released when the investigation completes.—MNA

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