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Former Universiti Malaya (UM) vice-chancellor Ghauth Jasmon.
“It’s not only UM. Other public universities are also facing the same problem. Professors going to retire or on contract have been told to end their services.”
There is a big crisis in universities but none of the VCs have the answers to cope with the huge budget cuts, he said.
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20 Jan 2017
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FMT News @fmtoday 8 hours ago
Universiti Malaya can’t stay afloat with budget cuts, says ex-VC
SUBANG JAYA: The oldest university in Malaysia may be bankrupt in three to five years if “the right people” are not hired to raise funds for its operations.
This comes after the government slashed its funds by half, said former Universiti Malaya (UM) vice-chancellor Ghauth Jasmon.
He said UM received government aid of RM550 million yearly before funds were slashed two years ago.
“Now, UM face cuts of RM270 million. They are now dipping into their reserves as the top management are academicians (vice-chancellors or VCs).
“These VCs, appointed by the higher education ministry, have no clues as to how to raise money. They only have another three to five years’ of savings.”
He was speaking on the final day of the Asia Public Policy Forum 2017, co-hosted by Harvard Kennedy School and Jeffrey Cheah Institute on Southeast Asia.
Ghauth, who was the UM VC from 2008 to 2013, said there was no “income replacement” for the budget cuts. This was despite the university being informed by the government a decade ago of the intended reduction in aid.
He said UM has 5,000 academic and administration staff. To survive these budget cuts, they will have to remove 2,000 people.
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FMT News @fmtoday 8 hours ago
Universiti Malaya denies it is going bankrupt
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PETALING JAYA: Universiti Malaya (UM) has already implemented measures to deal with current drastic budget cuts.
The university said this in an immediate response to its former vice-chancellor Ghauth Jasmon who claimed UM would be bankrupt in three to five years if “the right people” are not hired to raise funds for its operations.
In a statement, UM vice-chancellor Prof Amin Jalaludin said UM respected Ghauth’s opinion but it did not reflect UM’s current situation as the university had taken the necessary measures to deal with the budget cuts.
Amin said UM would be enhancing its policy of income generation, optimisation and financial prudence to cope with the cuts.
“This year, we anticipate a projection of RM300 million from our internal income, postgraduate fees, rentals and investments.
“Besides that, UM has diversified its income through its subsidiaries, operating joint ventures between public and private institutions, including International University of Malaya Wales, University of Malaya Centre for Continuing Education, University of Malaya Specialist Centre, and through development of its land banks.
“The management has also started to invest in a few lucrative sectors, namely in the plantation business, with the aim of being self-sustaining in the near future.”
Amin said UM would also initiate other revenue streams by providing training, consultancy and smart partnerships with the corporate sector.
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weehingthong 