Datuk Seri Ong Ka Ting said that the millions raised for the first phase development of UTAR would be placed in the Huaren Education Foundation, an educational account that is transparent and under strict supervision by the Government.

He said, "The public can be rest assured the money is there because the account is highly regulated and scrutinized by the Government."

"We are in the final stage of collecting RM200mil needed for the first phase," he added.