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PSM admits delay in opening second bank account for NSC funds | Scoop
Sumali did not provide a specific reason for the delay in setting up the second account, which was to be completed after signing the MoA with NSC in June. — Scoop file pic, November 10, 2024
Sports

PSM admits delay in opening second bank account for NSC funds

Sepak Takraw association works to complete process before NSC meeting, as concerns about financial management are addressed

Main Author Image
Adam Zamri
Updated
9:30 PM MYT

 

KUALA LUMPUR — The Malaysian Sepak Takraw Association (PSM) has admitted that they are one of nine sports associations that have yet to open a second bank account, a requirement for receiving funds from the National Sports Council (NSC).

PSM president Datuk Sumali Reduan did not specify the exact reason for the delay in setting up the second account, which was to be done after signing the Memorandum of Agreement (MoA) with NSC in June. 

However, he stressed that PSM has nothing to hide and fully supports NSC’s efforts to strengthen fund management for sports associations.

Therefore, he explained that PSM is now working hard to complete the process of opening a second account before the Working Committee (JKK) meeting with NSC at the end of this month.

“The association agreed to open a special account as discussed during the briefing, and we are in the process of setting it up. This is a positive step as it will allow us to manage our finances independently,” said Sumali in a press conference today.

However, he noted that it is important for the association to have a clear understanding of the exact budget allocation to manage funds more carefully.

“Previously, NSC managed the funds, so this proposal is a good one. We fully agree with it, as discussed in the briefing. 

“However, there is a risk if the existing budget is insufficient, and if we overspend, we will need to find additional sources of funding,” he added.

Earlier, Youth and Sports Minister Hannah Yeoh expressed disappointment that some national sports associations had yet to comply with the MoA signed with the NSC.

The MoA, signed by 19 national sports associations and NSC in June, aims to strengthen governance within each association through the implementation of the Podium Programme and the National Back-Up Programme. 

Under the MoA, financial allocations were to be disbursed based on an agreed training plan every four months, starting in June. — November 10, 2024

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