Subscribe to our FREE Newsletter, or Telegram and WhatsApp channels for the latest stories and updates.
Prime Minister Datuk Seri Anwar Ibrahim has ordered Universiti Teknologi MARA (UiTM) to review the governance and management of its wholly owned investment arm, UiTM Holdings Sdn Bhd, over losses of RM157 million.
The reported figure covers losses recorded in 2017, 2018, 2019 and 2021.
Anwar, who is also finance minister, made the remarks at a gathering with UiTM alumni in Shah Alam on Saturday (26 September).
He said the review must be carried out with the cooperation of the UiTM vice-chancellor and the Prime Minister’s Department, which will provide support where needed.
Chairman Says Losses Are Legacy Issue
UiTM Holdings chairperson Fathul Bari Mat Jahya welcomed Anwar’s concern.
He said the losses were not incurred under the current leadership. According to him, the figure has been reported since 2023, when the Higher Education Ministry explained it represented accumulated losses dating back to 2007.
Fathul Bari said Mohd Shukrie Mohd Salleh has led the company’s management since January 2025, while he became chairperson in August 2025.
He explained the company already has a recovery plan to address its financial position.
The plan has reportedly been presented several times through governance channels, including to the university’s board. He said the focus is now on coordination and implementation.
MACC Probe Still Ongoing
MACC chief commissioner Abd Halim Aman said the agency’s investigation is still ongoing.
He said the case involves complex technical matters, and MACC is waiting for further instructions from prosecutors.
The probe was launched in 2023. One of the issues under investigation is a RM42 million payment linked to a 50MW solar project in Gambang, Pahang.
Halim said the money was allegedly used for purposes unrelated to the project, and the payment was made without the approval of UiTM Holdings’ board.
The case is being investigated under Section 23 of the MACC Act 2009, which covers the use of office or position for gratification.
Higher Education Ministry Reviewing All University Holdings
Higher Education Minister Datuk Seri Zambry Abd Kadir said all university holding companies are being reviewed, Bernama reported.
He said he has been calling since last year for a review of how to restructure university holding companies.
Zambry said some holding companies made profits while others recorded losses, so better-performing companies could serve as models for the rest.
He said the move is meant to help the companies function more effectively, particularly after the government stopped fully funding universities’ financial needs in 2017.
The Public Accounts Committee (PAC) found UiTM injected RM259.98 million into UiTM Holdings between 2007 and 2018 for share acquisitions.
The PAC said this was done without the finance minister’s approval, which is required under the UiTM Act 1976.
READ MORE: 38km In A Day: UiTM Student Dies After Endurance Challenge Combining Run, Cycle And Jungle Trek
Share your thoughts with us via TRP’s Facebook, X, Instagram, or Threads.
