KUALA LUMPUR: Nearly RM374,000 in National Council of Professors' (MPN) funds were misused to benefit two companies in which two trustees have a stake, the latest Auditor-General's Report has revealed.
According to the report which covers the period between 2019 to 2023, the Auditor-General found that two board of trustees members failed to declare share ownership in two companies in line with the Companies Act.
"MPN funds totalling RM373,516 were misused to fund the operations of the two companies," read the report.
On other issues, it was also found that the payment of fixed allowances for the MPN chairman and deputy chairman totalling RM207,000 were not approved by the relevant minister.
The Auditor-General also flagged an amendment to MPN's charter in 2019 which led to it deviating from its original purpose and the government losing control over the body.
NST is attempting to reach MPN for comment.