Ministry reviews university holdings, UiTM team formed to safeguard Bumiputera institution’s future
The Malaysian Ministry of Higher Education is restructuring public university holding companies, including UiTM Holdings, to improve financial governance. A special team has been formed to safeguard the institution's future following reports of financial losses.
Why it matters
It highlights the challenges of managing commercial entities within public educational institutions and the government's role in fiscal oversight.
ASTANA (Kazakhstan), Sept 28 —The Ministry of Higher Education (MOHE) began reviewing and restructuring public university holding companies last year, including UiTM Holdings Sdn Bhd, said its Minister, Datuk Seri Dr Zambry Abd Kadir.
He said the move was taken to ensure university holding companies could function more effectively and contribute to their respective institutions, particularly after the government stopped fully funding universities’ financial needs in 2017.
“We have asked for all university holdings to be reviewed. Since last year, I have asked that we look at how to restructure the existing holding companies at universities.
“What we found was that some holdings were not functioning very well. That was the first step we took, and we have already begun several rounds of reviews to reassess these holdings, including UiTM Holdings,” he said.
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