PETALING JAYA: Universiti Teknologi Mara (UiTM), the Finance Ministry and the Higher Education Ministry have been given two months to respond to the Public Accounts Committee (PAC) on rectifying identified weaknesses, including UiTM’s purchase of shares worth RM259.98mil without approval.
This was among the recommendations made by the bipartisan parliamentary oversight committee following its probe into the matter.
The unapproved share purchase over a 12-year period was highlighted in the Auditor-General’s Report 2022.
Among the PAC’s findings was that UiTM had failed to obtain approval from the Finance Minister under the Universiti Teknologi Mara Act (Act 173), which made the acquisition of UiTM Private Education Sdn Bhd (UPESB) and UiTM Technoventure Sdn Bhd (UTVSB) contrary to the Act.
“Capital injection of RM259.98mil by UiTM from 2007 to 2018, without approval from the Finance Minister, for share acquisitions in UiTM Holdings is not in accordance with the requirements of Act 173,” said PAC chairman Datuk Mas Ermieyati Samsudin in a statement yesterday.
She said the PAC also found that the change in land use conditions for Solar Park I Gambang in Pahang had yet to be completed even though the UiTM Holdings project would benefit UiTM’s operations.
“The failure to conclude a new rental agreement between UiTM and UiTM Private Healthcare Sdn Bhd resulted in 15 months of rental arrears, causing the UiTM Private Specialist Centre to be improperly maintained,” added Mas Ermieyati.
She said the PAC also noted that UiTM Holdings and its subsidiaries have yet to fulfil their objectives and mandate to generate wealth for UiTM, create investment opportunities and improve the strategic position of the company’s core business.
The PAC recommended that UiTM be more effective in supervising UiTM Holdings and its subsidiaries to ensure their profitability and ability to pay dividends complied with the goals of its establishment.
“The Higher Education Ministry and UiTM must take rectification action on the RM259.98mil capital injection issue so that it is in line with Act 173,” she said.
Mas Ermieyati added that UiTM must also compel UiTM Holdings to immediately resolve the Solar Park I Gambang land use conditions issue as well as the 15-month rental arrears and maintenance problems of the UiTM Private Specialist Centre.
“The PAC will recall the Finance Ministry, the Higher Education Ministry and UiTM for follow-up proceedings in two months’ time to get their feedback on the committee’s recommendations,” she said.
The PAC’s findings and recommendations were issued following proceedings held on Dec 6 last year.
Among those called to testify were Higher Education Ministry deputy secretary-general (policy) Datuk Dr Megat Sany Megat Ahmad Supian, UiTM vice-chancellor Prof Datuk Dr Shahrin Sahib @ Sahibuddin and UiTM Holdings Group acting chief executive officer Farisan Mokhtar.
