Anwar Ibrahim orders governance review of UiTM Holdings over RM157 million losses
1 report, 1 independent
Updated Sep 1
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What happened
Anwar Ibrahim ordered a governance review of UiTM Holdings regarding RM157 million in recorded losses. The review follows a Public Accounts Committee report that found the university injected nearly RM260 million into the company without the finance minister’s approval. Additionally, the Malaysian Anti-Corruption Commission is investigating RM42 million allegedly misused from a solar project in Pahang.
From therakyatpost.com
Why it matters
The losses and the unauthorized fund injections raise questions about financial oversight within a major state institution in Malaysia. The Malaysian Anti-Corruption Commission's investigation into the alleged misuse of funds remains ongoing.
From therakyatpost.com
Who's involved
- Anwar IbrahimOrdered the governance review of the university.
- finance ministryThe ministry whose approval was bypassed during fund injections.
- MalaysiaThe country where the financial losses and investigation occurred.
How this reaches others
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The entities involved
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Anwar Ibrahim
Prime Minister of Malaysia since 2022