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AUDIT REPORT Kolej Universiti Islam Selangor (Kuis), which is operated by the Selangor Islamic Council, is facing losses of RM11.3 million in 2011, compared with a profit of RM4.36 million in 2010 and RM8.25 million in 2009.
Part of the blame for the losses, according to the Auditor-General's 2012 Report, is a drop in students entering Kuis, which saw its student intake of 7,107 in 2010 drop to 4,622 in the second session of 2012.
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This in turn also resulted in a decline in occupancy of its hostels, which can hold 6,504 students. The hostel occupancy during the second session of 2012 was just 57.3 percent.
Following this, nine hostel buildings have been left vacant and four of these have been put to other uses.
To make its financial situation worse, Kuis has a fixed agreement with the concessionaire of the hostel to pay an agreed amount annually.
Kuis signed the agreement with the concessionaire company,owned by BN's Permatang assemblyperson Sulaiman Abdul Razak, to make annual payments of RM13.56 million in 2009 and a projected RM18.05 million in 2020.
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Sulaiman had in July last year denied that he was profiting from the deal, signed in 2006, to build and provide the hostel accommodation for Kuis.
The Kuis board, as stated in the auditor-general's report, is in the process of buying over the hostel, which it hopes to do by early 2014.
The auditor-general classifies the losses suffered by Kuis as unsatisfactory. It also noted a high amount of RM24.171 million in student fees arrears that also led the university's poor financial performance.
On the unoccupied hostel rooms, the audit report recommended that these be rented out to nearby colleges or for the university to resolve the issue through a total restructuring of its organisation.
The auditor-general also reported that the Selangor Scholarship Development Fund saw arrears of RM8.23 million in 2012, from 2,135 recipients.
It also urged the fund to properly manage its computer data programme, which it found to be unsatisfactory.
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