MACC probing UiTM Holdings over RM157m losses in four years

The MACC is probing Universiti Teknologi Mara (UiTM) Holdings Sdn Bhd over allegations of inefficiency and leakages which led to RM157 million in losses incurred for four years.

Confirming this, a spokesperson for the investment holding company wholly owned by UiTM told Utusan Malaysia that the allegations were "nothing new", and that the MACC started acting against the management two years ago.

"The management of UiTM Holdings will fully cooperate with the MACC in the probe. We will hand over the needed documents, including...