Koperasi Siswazah Bangi Bhd refutes claims of missing money, stating all RM90.56 million in student fees collected since 2017 was channelled to Universiti Kebangsaan Malaysia.
KUALA LUMPUR: Koperasi Siswazah Bangi Bhd (KSBB) has denied any loss of funds in student fee collections under its partnership with Universiti Kebangsaan Malaysia (UKM).
The cooperative was responding to findings in the Auditor-General’s Report (LKAN) Series 1/2026, which highlighted serious irregularities in UKM’s fee collection and expenditure management.
KSBB manager Dr Muhammad Hafiz Md Saad stated all collections since the collaboration began in 2017 were managed and channelled to UKM as per their agreement. This process generated RM90.56 million in revenue for the university.
He explained that fee payments for the Master of Education and Diploma in Postgraduate Education programmes were remitted to UKM only after students settled their full semester fees. An instalment scheme was agreed upon from the outset to ease students’ financial burdens.
Muhammad Hafiz added that all collections complied with signed agreements, which included approvals from the university’s management meeting, senate, Standing Finance Committee and Legal Advisor’s Office. He said the issue of approval by the Finance Minister was UKM’s responsibility as the programme owner.
Regarding outstanding arrears, he said KSBB had actively managed claims since October 2025. UKM announced that outstanding debt was reduced to RM3.49 million as of Jan 14, 2026, down from RM5.32 million on Dec 31, 2024.
Further reviews are ongoing to reconcile student records involving withdrawals, dismissals or deaths. KSBB pledged full cooperation to resolve any remaining balance transparently.
Addressing allegations of conflict of interest, Muhammad Hafiz said five UKM officers on the cooperative’s board had no authority over university administrative or financial decisions related to KSBB. He stated they were prepared to resign if they did not have approval from their department heads.
He added that KSBB remains committed to good governance and would not hesitate to pursue legal action against false or defamatory claims, particularly on social media.
UKM said yesterday it would take disciplinary and legal action based on the outcome of a full investigation. This follows the tabling of LKAN 1/2026 in the Dewan Rakyat, which found governance breaches not in compliance with legal and financial regulations.
