PUTRAJAYA, Oct 1 – The Malaysian Anti-Corruption Commission (MACC) has identified governance issues and structural weaknesses within the management of UiTM Holdings Sdn Bhd following its investigation into financial losses incurred by the company.
MACC Chief Commissioner Datuk Seri Abd Halim Aman stated that the commission will submit formal recommendations to help the university’s investment holding arm rectify the identified shortcomings.
Speaking at a press conference during the MACC’s 59th anniversary celebration in Putrajaya on Thursday, Abd Halim emphasized that governance reviews are an integral component of the agency’s investigative framework.
“Although governance issues are not offences that can be prosecuted in court, the recommendations are intended to bring about improvements,” Abd Halim explained. “The MACC will recommend improvements to any process in which we identify weaknesses. In the case of UiTM Holdings, there are indeed governance issues, and we will recommend several measures for the company to address them.”
Ongoing Investigation and Legal Action
The probe into UiTM Holdings, which commenced in 2023, remains active and ongoing. Abd Halim reiterated that criminal investigations carry no statute of limitations and will proceed until all relevant evidence and documentation are fully secured.
“At this stage, the investigation is focused on one suspect,” Abd Halim added. “However, if new elements or evidence emerge, the investigation will be extended to other parties.”
Earlier on Thursday, former UiTM Holdings Chief Executive Officer Azlizan Fadzil, 52, pleaded not guilty at the Shah Alam Sessions Court to a charge of criminal breach of trust involving RM37.37 million dating back to 2017.
–NMT
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