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AG Report PTPTN Loan Management System unsatisfactory
by Cals Mon 07 Apr 2014, 22:43
| AG Report PTPTN Loan Management System unsatisfactory |
| Business & Markets 2014 |
| Written by Bernama |
| Monday, 07 April 2014 17:38 |
KUALA LUMPUR (April 07): The Education Loan Management System (Elmas) handled by the National Higher Education Fund Corporation (PTPTN), is unsatisfactory as a whole, according to the First Series of the 2013 Auditor-General's Report.
The report, which was tabled at the Dewan Rakyat today, said the management of loans such as extension, postponement and exemption of repayments through the Repayment Management System (e-UPKB), was not integrated with Elmas and Elmas-i (Islamic Education Loan Management System).
The Elmas and Elmas-i logical access are also weak, as they do not have safety features with user identifications and passwords developed by PTPTN being too simple.
An Auditor-General also found that Elmas and Elmas-i data cleansing were not fully implemented, to the extent that they overlapped loan schedule records.
It also found that 384 parent or guardian income records were unreasonable, based on the types of their employment.
The report said, the PTPTN disbursed loans totalling RM53.23 billion to 2.3 million borrowers, from 1997 until November 2013, of which RM5.14 billion was approved to 201,958 students in 2013.
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