KUALA LUMPUR, Oct 10 — A 2021 Auditor-General’s report today revealed millions of ringgit potentially lost by two major tertiary education institutions: Universiti Teknologi...
Trial: Bank Negara analyst stands by 1MDB’s US$20m trail to Najib even without Prince Faisal’s Saudi bank statementThe report on federal government agencies found a total of RM58.57 million may be lost at the Universiti Teknologi Mara , including an RM51.08 million potential loss from unclaimed compensation.
“Further examination revealed that demand notices were issued to all 86 debtors who breached contracts. “The inability to collect the total debt of RM6.23 million and its subsequent write-off in 2019 exacerbated the financial impact,” it said. “Reduction in debt repayment and payment of study leave compensation in-kind, totalling RM0.86 million, could not be collected due to the limitation of the Limitation Act 1953 and the non-implementation of in-kind compensation by the debt,” it said.
However, an amount of RM0.87 million in repayment for study leave compensation claims could not be collected from 18 of these debtors due to delays in pursuing the compensation payment.
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