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

The Malaysian government is imposing provisional anti-dumping duties ranging from 6.33% to 37.44% on imports of polyethylene terephthalate (PET), a type of synthetic fibre, originating from China and Indonesia.

Malaysia imposes provisional anti-dumping duties on synthetic fibre imports from China, Indonesia

Singapore Prime Minister Lawrence Wong departed for home on Tuesday after concluding a two-day official visit to Malaysia in conjunction with the 11th Malaysia-Singapore Leaders' Retreat.

Wong was accorded a red carpet welcome and a guard of honour by officers and members of the 1st Battalion of the Royal Malay Regiment under the command of Captain Muhammad Iskandar Dzulkarnein Doa Hassan at the Bunga Raya Complex here.

Singapore PM returns home after two-day official visit to Malaysia

Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) is exploring new funding models including public-private partnerships (PPPs) for future infrastructure projects like the Mass Rapid Transit 3 (MRT3) Circle Line, according to MRT Corp chief executive officer Datuk Mohd Zarif Hashim.

MRT Corp looking into public-private partnerships, other new funding models for future projects — CEO

The National Institute of Occupational Safety and Health (Niosh) is prepared to work with the Transport Ministry (MOT) and other agencies to create more comprehensive training modules for heavy vehicle operators.

Niosh ready to collaborate with MOT to develop training for heavy vehicle operators

Alliance Bank Malaysia Bhd (KL:ABMB) expects a positive financial year ending March 31, 2025 (FY2025) riding on strong momentum of loan growth, easing competition for funding, and stabilising asset quality.

Alliance Bank confident of achieving 10% loan growth, ROE of over 10% in FY2025

KUB Malaysia Bhd (KL:KUB) is acquiring a building materials company from CI Holdings Bhd (KL:CIHLDG) in a related party transaction deal for RM20 million cash, as part of the group's strategy to broaden its revenue base.

KUB Malaysia acquires buildings materials firm from CI Holdings for RM20m cash

Your guide to understanding Najib's house arrest bid

A summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI up 0.27% to 1,629.79 on Jan 7, 2025

Indonesia's industry minister met representatives of Apple on Tuesday to discuss the company's potential investment in the country, a prerequisite for the tech giant to sell its latest iPhone 16 locally, the minister said.

Indonesia, Apple discuss investment proposal linked to iPhone sale ban

Taiwan's coast guard has said that it suspects a ship damaged an undersea communications cable over the weekend, but that bad weather prevented its personnel from boarding the vessel to investigate.

Taiwan coast guard says weather prevented them from investigating damaged undersea cable

The leaders of Malaysia and Singapore formalised an agreement establishing a special economic zone linking their two nations’ border region, with the aim of attracting 50 projects in the first five years of its establishment.

Singapore, Malaysia ink deal creating new vast economic zone

KUALA LUMPUR (Jan 7): Kumpulan Wang Persaraan (Diperbadankan), or KWAP, and its affiliates have disposed of 119.25 million&nbsp;shares, or a 7.15% stake in Malaysia Airport Holding Bhd (MAHB)(KL:AIRPORT), pursuant to the takeover offer by Gateway Development Alliance Sdn Bhd (GDA).

GDA ups holding after KWAP disposes of 7.15% stake amid takeover

National oil and gas company Petroliam Nasional Bhd, or Petronas, said on Tuesday it is embarking on a study to explore untapped resources in the Malay Basin off the coast of Peninsular Malaysia.

Petronas to study mature Malay Basin that still holds untapped resources

Perusahaan Otomobil Kedua Sdn Bhd (Perodua) achieved record-high vehicle sales and production volumes in 2024, marking an 8.4% increase in sales compared to the previous year, along with its highest production output to date.

Perodua achieved record-high vehicle sales, production in 2024

The existence of the royal addendum in Najib's royal pardon raises significant questions that warrant clarification.

Najib Pardon: There is nothing pending for current Agong to deliberate on

KUALA LUMPUR (Jan 7): Maybank Investment Bank (Maybank IB) expects a de-rating for the Malaysian oil-and-gas sector, given the high possibility of capital expenditure reduction by Petroliam Nasional Bhd (Petronas) in 2025.

O&G sector faces de-rating on potential Petronas capex cut — Maybank IB

The government has&nbsp;decided that the Kuala Lumpur-Singapore high-speed rail (HSR) project can be revived if there is full participation from the private sector, with minimal government involvement, said Prime Minister Datuk Seri Anwar Ibrahim.&nbsp;

KL-Singapore HSR can be revived with full private participation, says Anwar

Royal addendum? House arrest? If you, like many Malaysians, are confused over what took place in imprisoned former prime minister Datuk Seri Najib Razak's court case on Monday, below is a brief elucidation highlighting the main takeaways.

Malaysia’s green industrialisation efforts face significant hurdles, including a decline of its manufacturing base, requiring urgent actions by the government, according to a new study.

Study: Malaysia’s manufacturing decline hinders green industrialisation, urgent action needed

There are still ample near- to medium-term opportunities for Kerjaya Prospek Group Bhd (KL:KERJAYA) after the construction firm secured its first contract for the year, analysts said.

Plenty of jobs ahead for Kerjaya Prospek after its first contract win in 2025, analysts say

EA Technique (M) Bhd (KL:EATECH) said on Tuesday that it will get an undisclosed payoff as part of an amicable settlement with national oil-and-gas company Petronas over the lease of a floating storage unit vessel.

EA Technique to get payoff from Petronas to settle vessel lease dispute

KUALA LUMPUR (Jan 7): The Federation of Investment Managers Malaysia (FIMM) has reprimanded a former unit trust consultant for allegedly cheating during its examination.

FIMM reprimands unit trust consultant for alleged cheating in exam

theedgemalaysia.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday. Two stocks showed positive momentum, while the rest showed positive momentum.

Stocks with momentum on Jan 7, 2025: Nationgate, Lien Hoe, Gamuda, Wong Engineering, Velocity Capital

The King, Sultan Ibrahim Sultan Iskandar, on Tuesday granted an audience to Singapore Prime Minister Lawrence Wong at Istana Negara here.

King grants audience to Singapore PM at Istana Negara

Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi has obtained permission from the High Court here to initiate contempt of court proceedings against former prime minister Tun Dr Mahathir Mohamad.

Zahid obtains leave to initiate contempt of court proceedings against Dr M

PUTRAJAYA (Jan 7): The dissolution of the government task force investigating 1Malaysia Development Bhd (1MDB) was an “administrative decision”, and not as a result of any directive by then-prime minister Datuk Seri Najib Razak, the court heard on Tuesday.

1MDB-Tanore: Najib says disbandment of taskforce probing wrongdoing was an ‘administrative decision’

Malaysia and Singapore are reopening discussions on long-standing issues such as water supply, maritime delimitation and airspace.

Malaysia, Singapore reopen discussion on long-standing issues

Cypark Resources Bhd (KL: CYPARK) said on Tuesday that it has achieved the commercial operation date (COD) for one of its two 60MW floating solar plants at Danau Tok Uban (DTU), Kelantan.

Cypark Resources achieves commercial operation date for first 30MW floating solar plant at Danau Tok Uban

Datuk Seri Najib Razak found an unlikely ally in Prime Minister Datuk Seri Anwar Ibrahim's recent statement that some prosecutions post-2018 general elections were "rushed".

1MDB-Tanore: Najib leans on PM's statement that some post-2018-GE prosecutions were rushed, says AGC has to review charges against him

LAS VEGAS/TOKYO (Jan 6): Tesla supplier Panasonic Energy plans to eliminate its supply-chain dependence on China for electric vehicle (EV) batteries made in the United States, a senior executive told Reuters, calling the shift a "No.1 objective".

AG's Report 2022

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AG's Report 2022

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