MACC probes UiTM Holdings over 2023 losses

The Malaysian Anti-Corruption Commission (MACC) has commenced an investigation into UiTM Holdings Sdn Bhd in relation to the company's financial losses in 2023. The probe encompasses several matters, such as the construction of a 50-megawatt solar project in Gambang, Pahang, for which a RM42 million payment was made without board approval.

The investigation's complexity, encompassing technical aspects, has led to its ongoing status, awaiting further directives from the prosecution. In addition to these, MACC will scrutinize other potential concerns, including governance flaws, as emphasized by Prime Minister Datuk Seri Anwar Ibrahim. The Prime Minister's concern and resolute approach to addressing the issues that led to UiTM Holdings' losses have been acknowledged by MACC.

Chief Commissioner, Datuk Seri Abd Halim Aman, confirmed that the investigation is being carried out under Section 23 of the MACC Act 2009, promising a swift, independent, and fair completion. Earlier, Anwar had urged UiTM to reassess its governance and management due to worries about the company's financial setbacks. The recommendation aimed at collaboration with the UiTM vice-chancellor and the Prime Minister's Department, offering assistance as needed.

The matter emerged during a public session at the Himpunan Mesra Alumni UiTM, where Anwar addressed a question from an audience member regarding the government and the UiTM Malaysia Alumni Federation's role in reviewing UiTM Holdings' administration, which reportedly incurred losses exceeding RM100 million.