How did PTPTN and EPF payments contribute to UKM’s RM50m shortfall?

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PTPTN and EPF Payments Originated from Students Pursuing Postgraduate Studies at UKM

Payments from the National Higher Education Fund Corporation (PTPTN) and the Employees’ Provident Fund (EPF) were channelled towards students enrolled in Universiti Kebangsaan Malaysia's (UKM) postgraduate programmes, specifically the Master of Education (SPEND) and Postgraduate Diploma in Education (DPLI). These funds, used by students for their educational investments, ultimately contributed to the overall financial flow that was managed by Koperasi Siswazah Bangi Bhd (KSBB). The Auditor-General's Report 1/2026 indicated that approximately RM50 million in fees and other payments intended for UKM were not fully remitted, leading to this significant shortfall.
Funds Allocated for Postgraduate Programmes

The financial arrangements involved students utilising PTPTN loans or their EPF savings to cover the costs associated with their postgraduate studies at UKM. These programmes are designed for individuals seeking further professional development or specialisation in education. The report highlights that these student payments, originating from national funding bodies and retirement savings schemes, formed the basis of the revenue collected by KSBB on behalf of the university.
Cooperative's Role in Fee Collection

Koperasi B-5-1788, operating under the name Koperasi Siswazah Bangi Bhd (KSBB), was established in 2017 and was responsible for collecting these fees from students. While the exact details of the financial agreement between UKM and KSBB are not fully elaborated in the public domain, the Auditor-General's findings suggest that the cooperative's revenue generation, which reached RM90.56 million, did not translate into the full amount being transferred to UKM. This intermediary role played by KSBB is central to understanding how the shortfall occurred.
Implication of Shortfall on University Finances

The Auditor-General's Report indicated that UKM was shortchanged by approximately RM50 million due to this fee collection arrangement. This financial discrepancy implies that a portion of the funds paid by students via PTPTN and EPF, and processed through KSBB, did not reach the university's accounts as intended. UKM has since transitioned to collecting fees directly since last year, discontinuing the use of KSBB for this purpose.

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How did PTPTN and EPF payments contribute to UKM’s RM50m shortfall?

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