KUALA LUMPUR: Universiti Teknologi MARA could potentially lose some RM51.08mil following delays in seeking compensation from 239 scholarship holders, who breached their contracts.
Audit findings conducted on 381 of the 1,496 debtors in breach of contract until December 2021 found that it involved a sum of RM67.08mil. It said the write-off of debts, amounting to RM6.23mil, was due to the university’s failure to take legal action before the six-year time limit, debtors already being declared bankrupt and the absence of debtors’ files at UiTM’s legal adviser's office.
"UiTM's delay in seeking compensation against this group of debtors has resulted in the university losing revenue amounting to RM1.26mil and potential revenue amounting to RM51.08mil," the report stated.