Politics · Malaysia Bureau
Prime Minister orders probe into UiTM Holdings' RM157 million losses
Malaysia's Prime Minister has directed a comprehensive review into significant financial losses recorded by UiTM Holdings, the investment arm of Universiti Teknologi MARA. The losses, totalling RM157 million across four financial years, have prompted high-level scrutiny of the institution's investment performance.
LSN Malaysia ·
The directive represents renewed focus on financial accountability within the university sector, following the disclosure of substantial losses incurred by UiTM Holdings during the periods of 2017, 2018, 2019, and 2021. The investigation aims to examine the circumstances surrounding the poor investment returns and identify areas requiring corrective action.
UiTM Holdings functions as the commercial and investment vehicle for Universiti Teknologi MARA, managing a portfolio of assets and business operations intended to generate revenue streams for the institution. The accumulated losses raise questions about investment strategy, risk management, and governance oversight within the subsidiary.
The Prime Minister's intervention signals the government's commitment to ensuring prudent management of public sector investments and university resources. The review is expected to determine whether operational, strategic, or governance failures contributed to the financial underperformance, with recommendations anticipated to address systemic issues and prevent recurrence.
UiTM, as one of Malaysia's premier public universities, maintains significant institutional and financial standing. The outcomes of this review may have implications for governance practices across other university-linked investment entities in the country.