Prime Minister Orders Review of UiTM Holdings Governance
The Prime Minister of Malaysia, Datuk Seri Anwar Ibrahim, has issued an official directive to conduct a review of the governance and management of UiTM Holdings. This step was taken following financial reports indicating that the company has recorded significant losses.
According to reports, UiTM Holdings has recorded losses amounting to approximately RM157 million. This figure has raised concerns regarding how the company, which is owned by the educational institution, is being managed, especially since it involves public funds and the interests of a vital Bumiputera educational institution in Malaysia.
The government is now paying closer attention to Malay institutions to ensure that every organization operates transparently and efficiently. This review aims to identify the root causes of the losses and to address weaknesses within the company's management system.
Furthermore, the management of UiTM Holdings is expected to provide a detailed explanation regarding their financial position to the authorities. This measure is part of the government's effort to strengthen integrity and accountability in government-linked companies (GLCs) nationwide.
In conclusion, this firm action demonstrates the government's commitment to ensuring that every institution under its supervision is managed with full responsibility. The public is now awaiting the results of the investigation to ensure that educational institution funds are used as effectively as possible for the future of students.