UiTM Holdings under MACC investigation over significant losses

UiTM Holdings MACC investigation Anwar Ibrahim corporate governance solar project

The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into UiTM Holdings Sdn Bhd following significant financial losses. The probe focuses on losses reported in 2023, which some reports suggest could be part of an accumulated loss of approximately RM157 million.

A key component of the investigation involves a RM42 million payment related to a 50-megawatt solar project in Gambang, Pahang. Allegations suggest the funds were used for purposes unrelated to the project and were disbursed without the approval of the company's Board of Directors. MACC is conducting the inquiry under Section 23 of the MACC Act 2009, which pertains to the abuse of power or office for gratification.

Prime Minister Anwar Ibrahim has called for a comprehensive reassessment of the governance and management structures at UiTM Holdings to address potential weaknesses or misconduct. Simultaneously, the Ministry of Higher Education has initiated a review of university holding companies to ensure they function effectively and contribute to their respective institutions.

Entities

Anwar Ibrahim · Malaysian Anti-Corruption Commission · Ministry of Higher Education · Prime Minister’s Department · UiTM Holdings Sdn Bhd · Universiti Teknologi MARA

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] UiTM Holdings Chairman Datuk Dr Fathul Bari Mat Jahya stated the losses were not new and had been reported since 2023. www.mynewshub.tv
[● 3 SOURCES] UiTM Holdings reportedly suffered accumulated losses of approximately RM157 million. www.mynewshub.tv · www.freemalaysiatoday.com
[● 4 SOURCES] The RM42 million payment was allegedly for purposes unrelated to the solar project and lacked Board of Directors (BOD) approval. alhijrahnews.com · malaysiatribune.news · www.freemalaysiatoday.com
[○ 1 SOURCE] The Ministry of Higher Education is reviewing university holding companies, including UiTM Holdings.
[● 4 SOURCES] MACC is conducting the investigation under Section 23 of the MACC Act 2009. alhijrahnews.com · malaysiatribune.news · www.freemalaysiatoday.com
[● 4 SOURCES] The investigation includes a RM42 million payment related to a 50MW solar project in Gambang, Pahang. alhijrahnews.com · malaysiatribune.news · www.freemalaysiatoday.com
[● 4 SOURCES] MACC is investigating UiTM Holdings Sdn Bhd regarding losses incurred in 2023. alhijrahnews.com · malaysiatribune.news · www.freemalaysiatoday.com
[● 4 SOURCES] Prime Minister Anwar Ibrahim has called for a comprehensive reassessment of UiTM Holdings' governance and management. alhijrahnews.com · www.freemalaysiatoday.com