KUALA LUMPUR: Over RM370,000 of funds from the National Council of Professors (MPN) were misused to benefit two companies involving two shareholders who are also council trustees, according to the Auditor General’s Report 2/2024.

The report said two members of the MPN board of trustees had failed to declare their interests as shareholders of two private companies in accordance with the Companies Act.

“Additionally, the misuse of MPN funds to finance the operations of these two companies, amounting to RM373,516, was a conflict of interest,” the report revealed.

The report, which covers 2019 to 2023, also said the ministry in charge did not approve fixed allowances for the MPN chairman and deputy chairman amounting to RM207,000.

The report also said the MPN had never been audited since it was incorporated in 2014.

It added that MPN received a total of RM34.84mil in management grants from the government for 2015 to 2018 as well as 2022 and 2023.