The Electricity Industry Fund (KWIE) found itself among the top five loss-making federal agencies in 2022, with a loss of RM990 million, on the back of hefty electricity tariff rebate expenses, according to the Auditory General’s Report on federal agencies for 2022.

Energy Commission fund logged RM990m loss in 2022 on tariff rebate expenses — AG’s Report

The Federal Land Development Authority (Felda) has emerged as the federal agency reporting the highest deficit at RM1.01 billion, according to the Auditor General's Report for the year 2022.

Felda tops federal agencies with highest deficit of RM1.01b — AG's Report

The Federal Land Development Authority (Felda), which posted a net loss of RM1.01 billion in 2022, almost double of the amount it bled in 2021, faces financial challenges to meet its debt obligations, according to the Auditor-General's Report on Federal Agencies for 2022.

The annual net loss of RM1.01 billion was sharply higher than the RM545 million net loss it suffered in 2021, despite strong crude palm oil prices.

Auditor General flags Felda’s loan defaults, urges reducing reliance on government grants

KUALA LUMPUR (March 6): The Ministry of Housing and Local Government's PR1MA Corporation Malaysia (PR1MA) may struggle to repay the second tranche of its sukuk, amounting to some RM1.75 billion, maturing in October this year.

AG's Report: PR1MA may struggle to pay second tranche of sukuk of RM1.75b in October 2024

The Armed Forces Fund Board (LTAT) has consistently reported a deficit in its reserves since 2020, according to the Auditor General's Report on Federal Agencies for 2022.

AG's Report: LTAT reserves in deficit since 2020

Malaysia’s auditor general on Wednesday flagged going concerns issues at two federal government agencies Federal Land Development Authority (Felda) and PR1MA Corp Malaysia.

Auditor General flags going-concern issues at Felda, PR1MA

KUALA LUMPUR (Nov 22): A total of RM681.71 million in public funds were identified as losses in six programmes involving the activities of federal government ministries and departments, as well as federal statutory bodies, as reported by the Auditor General’s Report 2022 (AG’s Report 2022).

Over RM681 mil of public fund losses across six federal programmes

Malaysia’s National Trust Fund (KWAN), which made up 68.7% of the federal government investment position, grew 4.2% year-on-year (y-o-y) to RM14.47 billion in 2022, from RM13.89 billion.

National trust fund grew 4.2% y-o-y to RM14.47b in 2022, says Auditor General's Report

Government auditors have flagged a material uncertainty on the ability of five subsidiaries of Pertubuhan Berita Nasional Malaysia (Bernama) to continue as a going concern, which resulted in the national news agency itself getting its second consecutive qualified opinion from the auditors on its financial statements for the year ended Dec 31, 2021 (FY2021).

AG raises going-concern doubts over five Bernama subsidiaries

The federal government has written off RM4.6 billion in loans in 2022, up from RM701.5 million in 2021, said the Auditor General’s Report on federal government financial statement 2022.

Putrajaya records loan write-off of RM4.6 bil in 2022, says Auditor General’s Report

As much as RM58.57 million in losses were incurred when Universiti Teknologi MARA (UiTM) delayed initiating the compensation claim process against scholarship holders who breached their contracts, the Auditor General's Report 2022 revealed.

UiTM faces RM59 mil losses due to delayed compensation claims against scholarship holders

The Auditor General's Report for 2022 has revealed that weaknesses in recording, monitoring, and enforcement have caused the Railway Assets Corp (RAC) to incur losses of RM12.84 million in rental revenue.

Weakness in recording, monitoring and enforcement cost Railway Assets Corp RM13 mil in rental revenue

KUALA LUMPUR (Oct 10): Urusharta Jamaah Sdn Bhd (UJSB), the special purpose vehicle (SPV) tasked to acquire underperforming assets of Lembaga Tabung Haji (TH) as a means to revive the pilgrim fund, redeemed RM200 million worth of sukuk in January this year.

Urusharta Jamaah redeemed RM200 mil of sukuk in January, says Auditor General’s report

Putrajaya spent a total of RM62.11 billion in subsidies last year, according to the Auditor General’s Report on the federal government’s 2022 financial statement.

The bulk or RM55.443 billion in subsidies were charged to the federal government’s operating expenditure (opex), while part of the subsidy spending for petroleum products and cooking oil amounting to RM6.67 billion were charged to the Covid-19 Trust Fund.

Malaysia’s subsidies in 2022 total RM62b — nearly five times more than in 2021

Gold spiked after Israel conducted airstrikes targeting Iran’s nuclear sites and military leadership, raising fears that hostilities between the two nations may spiral into a wider regional conflict.

Gold jumps after Israel launches strikes on Iran’s nuclear sites

The United Nations’ atomic watchdog said there are no indications of increased radiation levels at Iran’s main uranium-enrichment site, an early sign that Israel’s strikes have not penetrated the containment layers protecting the Islamic Republic’s nuclear stockpile.

Key Iran nuclear enrichment site of Natanz shows no sign of breach — UN atomic watchdog

The Chinese economy rode out the tariff rollercoaster in May even as domestic consumption likely weakened again, after the government’s massive fiscal stimulus and frontloading by exporters offset shocks from abroad.

China’s economy withstands trade chaos but momentum likely slowed

Israel launched widescale strikes against Iran on Friday, saying it targeted nuclear facilities, ballistic missile factories and military commanders during the start of a prolonged operation to prevent Tehran from building an atomic weapon.

Israel hits Iran nuclear facilities, missile factories; Tehran launches drones

The Ministry of Transport will begin phased enforcement of mandatory speed limitation devices (SLD) for commercial vehicles, including express and tour buses, starting October 1 this year.

Loke: Enforcement of speed limit devices on commercial vehicles to begin October 1 

SEOUL (June 13): Airlines cleared out of the airspace over Israel, Iran, Iraq and Jordan on Friday, after Israel launched attacks on targets in Iran, Flightradar24 data showed, with carriers scrambling to divert and cancel flights to keep passengers and crew safe.

After Israel strikes Iran, airlines divert flights as airspace closed

As Air India Flight AI171 descended toward its doom on Thursday, Ramesh Vishwaskumar sat in the first row of economy class — headed for one of the most harrowing and luckiest moments of his life.

‘I got up and ran’: How one man survived a plane crash that killed 241

The key question for markets following Israel’s strike on Iran is how much worse things will get, say strategists.

Escalation is key fear for markets after Israel's strike on Iran, analysts say

Thailand's Supreme Court will hold hearings in July over the legitimacy of the prolonged hospital stay of influential former prime minister Thaksin Shinawatra in lieu of prison, and it could potentially send him back to jail.

Thai court to hear Thaksin hospitalisation case in July; could potentially re-sentence ex-PM

NEW DELHI (June 13): Nearly all the iPhones exported by Foxconn from India went to the United States between March and May, customs data showed, far above the 2024 average of 50% and a clear sign of Apple's efforts to bypass high US tariffs imposed on China.

The numbers, being reported ...

Foxconn sends 97% of India iPhone exports to US as Apple tackles Trump's tariffs

KUALA LUMPUR (June 13): A planned 6% sales and service tax (SST) on construction services could lead to higher housing prices and market slowdown, real estate developers warned on Friday.

Developers warn 6% SST on construction services could raise home prices

Bermaz Auto Bhd (KL:BAUTO) fell on Friday to its lowest in more than four years, as a set of weaker-than-expected results disappointed both analysts and investors of the automotive company.

Bermaz Auto falls to over four-year low as results disappoint investors, analysts alike

Malaysian oil and gas stocks surged on Friday and outperformed the broader market decline following news reports of Israeli attack on Iran, in major escalation in the Middle East.

Malaysia’s energy stocks surge as Israel launches major strikes on Iran

Global stock markets dived on Friday and oil prices surged after Israel conducted a military strike on Iran, rattling investors and sparking a shift towards safe havens such as gold and the Swiss franc.

Stocks tumble, oil soars as Israel's strike on Iran jolts markets

Israel launched widescale strikes against Iran on Friday, saying it targeted nuclear facilities, ballistic missile factories and military commanders during the start of a prolonged operation to prevent Tehran from building an atomic weapon.

Ping Edge Technology Bhd (KL:PING) edged higher in its trading debut on Bursa Malaysia’s LEAP Market on Friday.

Ping Edge Technology rises 4.4% on LEAP Market debut

An Air India flight from Phuket in Thailand to India's capital New Delhi received an onboard bomb threat on Friday and made an emergency landing on the island, airport authorities said.

Air India flight makes emergency landing in Thailand after bomb threat; all passengers off plane

(June 12):&nbsp;The crash of Air India Flight 171 has turned 2025 into one of the deadliest years in the past decade for civil aviation.&nbsp;

Air India crash makes 2025 deadliest for air travel in years

KUALA LUMPUR (June 13): Rafizi Ramli says he has packed up all his possessions during his final trip to the office on Friday, even as Prime Minister Datuk Seri Anwar Ibrahim urged the outgoing economy minister to reconsider his resignation.

Rafizi packs his bags despite Anwar’s call to reconsider resignation

(June 13): The start of a gold-futures contract in Singapore has put the spotlight on fresh moves in Asian financial hubs to capitalise on rising interest in the commodity, as demand increases and prices surge.

Gold market competition heats up as industry meets in Singapore

Rex Industry Bhd (KL:REX) said it has received a takeover offer at 10 sen per share from its new major shareholder.

Rex Industry gets takeover offer at 10 sen per share

(June 12): Alphabet's Google said on Thursday that it had resolved a brief global service disruption on its platforms that affected multiple services, such as music streamer Spotify and instant messaging provider Discord.&nbsp;"The issue with Google Chat, Google Meet, Gmail, Google Calendar, Google Drive, Google Cloud Search, Google Tasks, Google Voice has been resolved for all affected users," the company said.

Google says it has resolved global service outage impacting multiple platforms

SEOUL (June 13): Airlines cleared out of the airspace over Israel, Iran, Iraq and Jordan on Friday, after Israel launched attacks&nbsp;on targets in Iran, Flightradar24 data showed, with carriers scrambling to divert and cancel flights to keep passengers and crew safe.

Oil prices jumped more than 7% on Friday, hitting their highest in months after Israel said it struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies.

Oil soars more than 9% after Israel strikes Iran, rattling investors

PUTRAJAYA (June 13): The public should refrain themselves from making speculative and defamatory statements with regard to Thursday’s (June 12) verdict on Muhammad Yusoff Rawther, especially if they are made outside the scope of the High Court’s decision.

AG’s Chambers: Prosecution of Yusoff Rawther was based on evidence, and not influenced by any party

There was a misconception in law when the Sessions Court dismissed Toh Puan Na'imah Abdul Khalid's referral application regarding the charge against her, of failure to declare her assets, the defence team claimed.

‘Sessions Court failed to appreciate constitutional importance in Na'imah's application,' says defence lawyer

Malaysian consumers spent at a slower pace in April during the Ramadan month while digital payments rose, official data on Wednesday showed.

Malaysia's wholesale and retail trade growth slows in April during Ramadan month, official data show

Flag carrier Singapore Airlines' budget arm, Scoot, will take over some of the routes run by Qantas Airways' Jetstar Asia, which announced this week that it would close, a Singapore Airlines spokesperson said on Friday.

Singapore Airlines' Scoot to take over Jetstar routes

Video of the Air India jetliner that crashed into a neighbourhood points to potential anomalies that aviation safety authorities will examine to understand what caused the accident that killed at least 241 people.

Air India plane crash draws attention to flaps and landing gear — aviation experts

(June 13): The S&amp;P 500 Index eked out gains for the fourth day in five sessions on Thursday, with traders welcoming another cooling inflation print, while reacting little to the latest round of US-China trade talks.

AG's Report 2022

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AG's Report 2022

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