MACC Investigates UiTM Holdings Over RM42 Million Losses and Solar Project Governance

KUALA LUMPUR, Sept 27 — The Malaysian Anti-Corruption Commission (MACC) has initiated an investigation into financial losses incurred by UiTM Holdings Sdn Bhd in 2023, focusing on governance weaknesses and unauthorized solar project expenditures.

According to a statement issued today, the probe encompasses several key issues, including the development of a 50-megawatt solar project in Gambang, Pahang. The project involved an unauthorized RM42 million payment allocated for purposes unrelated to the development and executed without the approval of the company’s Board of Directors.

“In addition, to further complete the investigation process, MACC will also examine whether there are other relevant issues, including weaknesses in governance as mentioned by Prime Minister Datuk Seri Anwar Ibrahim yesterday,” the commission stated.

MACC Chief Commissioner Datuk Seri Abd Halim Aman confirmed that the investigation is being conducted under Section 23 of the MACC Act 2009. He emphasized that the commission is striving to complete the complex technical probe in an independent and fair manner, pending further directives from the prosecution.

The commission’s statement follows remarks by Prime Minister Datuk Seri Anwar Ibrahim, who called for a comprehensive reassessment of UiTM Holdings’ governance and management structure. Anwar stressed that while operational weaknesses should be addressed through administrative improvements, strict legal action must be taken if criminal wrongdoing is established, ensuring integrity is upheld across Bumiputera agencies.

–NMT