It said this was also the main reason behind the poor maintenance of the premises.

UiTM Holdings is an investment holdings firm wholly owned by Universiti Teknologi Mara (UiTM).

“UiTM Holdings needs to present a comprehensive investment and business direction plan, including addressing the 15-month rental arrears and poor maintenance at the UiTM specialist centre,” the committee said in a statement.

This was part of the findings and recommendations in the PAC’s report on UiTM Holdings.

It had summoned higher education ministry deputy secretary-general (policy) Megat Sany Megat Ahmad Supian, UiTM vice-chancellor Shahrin Sahibuddin, and acting UiTM Holdings CEO Farisan Mokhtar in its proceedings.

The PAC said UiTM Holdings and its subsidiary companies have yet to achieve their original mandate, which is to generate wealth for UiTM, create investment opportunities, and improve the company’s business position.

“UiTM needs to be more effective in governing UiTM Holdings and its subsidiaries in order to generate profits and pay dividends in line with the establishment goals,” PAC said.

On Nov 22, 2023, the Auditor-General’s Report 2022 said a total of RM259.98 million was invested in UiTM through capital injections and loan-to-equity conversions over 11 years without the approval of the finance ministry.

Auditor-General Wan Suraya Wan Radzi also found that UiTM’s investment activities in the energy sector were inefficient, noting weaknesses in the implementation of large-scale solar power projects and rooftop solar projects.

Today, PAC said UiTM Holdings’ solar project was beneficial to its operations, but the exchange of land for the solar park in Gambang, Pahang remains unresolved.

It urged the company to immediately resolve the matter.

The PAC said it will recall officials from the Treasury, higher education ministry, and UiTM for further proceedings within two months to ensure action has been taken to address these issues.