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2 clusters · 9 sources · 3 days · First seen · Last updated

UiTM Holdings corruption and financial loss investigation

Overview

The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into UiTM Holdings Sdn Bhd following reports of significant financial losses. The probe focuses on an estimated RM157 million in losses and a specific RM42 million payment related to a 50-megawatt solar project in Gambang, Pahang. Allegations suggest these funds may have been used for purposes unrelated to the project and were disbursed without the approval of the company’s Board of Directors.

In response to the investigation, Prime Minister Anwar Ibrahim called for a reassessment of governance and management structures at UiTM Holdings. Concurrently, the Gabungan Kesatuan Kakitangan Am Universiti Awam Malaysia (GAKUM) has demanded comprehensive reforms for all public university holding companies to ensure financial sustainability.

Clarifications regarding the financial data indicate that the RM157.04 million loss refers to pre-tax losses spanning the 2017, 2018, 2019, and 2021 financial years. While the MACC investigation remains active, officials have noted that no wrongdoing has yet been determined.

Entities

Ministry of Higher Education · Malaysian Anti-Corruption Commission · UiTM Holdings Sdn Bhd · Malaysia Corruption Watchers · Universiti Teknologi MARA

Timeline

  1. [BUSINESS] 2 sources
    UiTM Holdings faces calls for reform amid reported losses

    GAKUM and Malaysia Corruption Watchers are calling for reforms and accountability at UiTM Holdings following reports of RM157 million in historical losses and ongoing MACC investigations.

  2. [CRIME] 9 sources
    UiTM Holdings under MACC investigation over significant losses

    The MACC is investigating UiTM Holdings over RM157 million in losses and an unauthorized RM42 million solar project payment. Prime Minister Anwar Ibrahim has ordered a governance review of the company.

Sources

alhijrahnews.com · freemalaysiatoday.com · malay.news · malaysiadateline.com · malaysiatribune.news · mynewshub.tv · therakyatpost.com · thesun.my · utusan.com.my