Huge losses, dividends still flowing – whose money is 'working' here?
The latest national audit report revealed that 86 government subsidiaries have recorded a total loss of RM2.81 billion in 2023.
Despite suffering losses, 14 companies still have to pay dividends to government agencies.
Meanwhile, the assets of 142 government agencies increased to RM2.696 trillion.
However, Perbadanan PR1MA Malaysia (PR1MA) still bears a net liability of RM342.46 million due to sukuk payments until 2027, while SWCorp recorded a net liability of RM140.15 million due to outstanding debts and expenses.
At the same time, the government acted to channel grants totaling RM33.6 billion to 98 agencies, with the top recipients including the People's Trust Council (MARA), Universiti Teknologi MARA (UiTM), Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN), Lembaga Pertubuhan Peladang (LPP), and Lembaga Kemajuan Tanah Persekutuan (FELDA).
Despite the losses, the dividend flow continued, raising questions about the effectiveness of financial management in government-linked companies.
