ACMA Foundation (the Foundation) was formed on 26 November 1996 with separate fundraisings and charitable functions. Its main purpose was to complement ACMA(SA) Inc. (ACMA) for charitable functions. In order to give the Foundation flexibility, it was formed with its own separate legal entity, management and administration. Most of the funds raised by ACMA were deposited into the account of the Foundation.
At its inception, there were three trustees with the balance of power. The number of trustees was increased to five. Dr Francis Ghan joined the Foundation as a trustee on 19 January 2008 and later became Chairman. Since then, the number of trustees has been reduced. By 16 May 2021, the number of trustees has been reduced down to two with Dr Francis Ghan remaining as the Chairman and Dr Lap Kwong Han as the Treasurer.
By 22 September 2021, Dr Francis Ghan and Dr Lap Kwong Han decided to resign from ACMA as members. Since then, the Foundation has ceased a working relationship with ACMA. All the funds raised in the past 26 years with the assistance of ACMA remains with the Foundation and continued to be solely and exclusively managed by Dr Francis Ghan and Dr Lap Kwong Han.
As the Foundation is a separate legal entity, ACMA has no jurisdiction whatsoever to influence the governance of the funds.
Efforts made by the Management Committee of ACMA with intention to communicate with Dr Francis Ghan regarding resumption of a working relationship with the Foundation have not been successful.
Therefore, members are advised that ACMA has no jurisdiction or power to influence the Foundation regarding how the existing funds will be utilised. The Foundation has no obligation to inform ACMA how the funds will be distributed.
