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 2023 (AG’s Report 2023).

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 2023 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

1Malaysia Development Bhd’s Assets Recovery Trust Account balance stood at RM1.927 billion at end-2022, down 87.4% from RM15.281 billion in 2021, according to the Auditor General's report on the federal government financial statement for the year 2022.

1MDB's Assets Recovery Trust Account balance at end-2022 falls 87% to RM1.9b

Binance, the world's biggest cryptocurrency exchange, resumed bitcoin, ether and some stablecoin withdrawals on Sunday and said others would follow in phases, after it covered 95% of the US$6.3 billion (RM25.6 billion) in tokens stolen from its platform.

Binance resumes bitcoin, ether withdrawals after covering bulk of stolen US$6.3b

The Entrepreneur Development and Cooperatives Ministry (Kuskop) disbursed RM10.7 billion in financing to nearly 300,000 entrepreneurs, including hawkers and petty traders, from January to September this year.

RM10.7b financing disbursed to nearly 300,000 entrepreneurs as of September — minister 

Deputy Defence Minister Adly Zahari will be named Pakatan Harapan's (PH) candidate for chief minister if the coalition succeeds in forming the state government following the 16th Melaka state election on Nov 14.

Adly Zahari named Pakatan’s choice for Melaka CM if it wins state polls

The Sarawak government is exploring potential collaboration with Russia in rocket and satellite launches, leveraging the state’s strategic location near the equator.

Sarawak exploring tie-up with Russia on rocket, satellite launches — CM

Bangladesh announced a six-member wage board on Sunday to review garment workers' pay and urged employees to return to work, but protests demanding higher wages continued across major industrial areas, disrupting transport and factory operations.

Bangladesh forms wage board as garment protests turn violent

Prime Minister Datuk Seri Anwar Ibrahim has announced an allocation of RM1 million to the Ministry of Entrepreneur Development and Cooperatives (Kuskop) to coordinate assistance for associations, hawkers and small traders to boost their income.

PM announces RM1m allocation to aid hawkers, small traders 

Former prime minister Datuk Seri Najib Tun Razak has yet to pay his RM50 million fine, according to the latest information received by the Attorney General's Chambers (AGC).

No deadline set for Najib to pay RM50m fine, says AG 

Malaysia Airlines said on Sunday that some customer information may have been affected by a cybersecurity incident involving Amadeus, its reservation-technology provider.

Malaysia Airlines says customers may be affected by Amadeus breach

As the global monetary order becomes increasingly fragmented, the European Union has a rare opportunity to shape the emerging system and bolster the euro’s international role. But for the euro to become genuinely global, it must first become more European.

The dollar’s share of global f...

The Frontiers of Growth:  A Global Euro Must First Win Over Europe

Long dubbed an "air-conditioned nation", Singapore is experimenting with cooling alternatives from chilled beams to "passive displacement" to curb its thirst for energy-guzzling air conditioning.

'Air-con nation' Singapore eyes alternatives to cool down

Controversial businessman Victor Chin Boon Long has once again applied to testify remotely from China in a RM49.85 million lawsuit over the management and control of an air cargo venture, citing medical grounds. &nbsp;&nbsp;

Victor Chin renews bid to testify remotely in M Jets lawsuit, citing medical reasons

Malaysia Airlines said on Sunday that some customer information may have been affected by a cybersecurity incident involving Amadeus, its reservation-technology provider.

Long dubbed an "air-conditioned nation", Singapore is experimenting with cooling alternatives from chilled beams to "passive displacement" to curb its thirst for energy-guzzling air conditioning.

Prime Minister Datuk Seri Anwar Ibrahim has appointed four individuals, including former attorney general Tan Sri Idrus Harun, as members of the Judicial Appointments Commission for a two-year term, effective Sunday.

Ex-AG Idrus Harun among quartet appointed to Judicial Appointments Commission

Binance, the world's biggest cryptocurrency exchange, resumed bitcoin, ether and some stablecoin withdrawals on Sunday and said others would follow in phases, after it covered 95% of the US$6.3 billion (RM25.6 billion) in tokens stolen from its platform.

With the recent unveiling of the Muara Arts Gallery and upcoming opening of the Muara Arts Theatre, it is apparent that a major urban heritage conservation movement is steadily transforming the Medan Pasar area in Kuala Lumpur. In this week’s cover story, Brahmal Vasudevan, CEO of private equity firm Creador, together with his wife Shanthi Kandiah, founding partner of SK Chambers, take us through their mission to restore and rejuvenate the old market square into a cultural hub for locals and tourists alike.&nbsp;

Square one

Hooded rioters looted stores in Frankfurt late on Saturday after tens of thousands of demonstrators took to the streets across Germany's biggest cities to demand better education and lower living costs.

Rioters loot stores in Frankfurt as Gen Z-led protests in Germany turn violent

Asia’s AI-heavy stock markets face a new US policy wildcard in the mid-term elections, with the outcome potentially reshaping the tech trade and sectors from clean energy to defence.

An Asian stock trader’s guide ahead of the US mid-term elections

Former prime minister Datuk Seri Najib Tun Razak has yet to pay his RM50 million fine, according to the latest information received by the Attorney General's Chambers (AGC).

Borsa Istanbul chief executive officer Korkmaz Ergun was detained as part of an investigation into Türkiye’s investment fund crisis, state-run Anadolu Agency reported on Saturday.

Borsa Istanbul CEO detained in funds probe — report

Jobs week lies ahead for the US, which means a heavy slate of data ahead of the capstone monthly employment report from the Bureau of Labor Statistics on Friday.

US jobs pickup may keep Fed on track to hike rates again

This week, we spoke to OSK Property’s new CEO Chu Wai Lune on how the developer creates value for buyers.&nbsp; He believes that rather than competing on size or amenities alone, thoughtful design, functionality, future-ready homes and community can make a meaningful difference to buyers.&nbsp;

Making the ordinary extraordinary

As the global monetary order becomes increasingly fragmented, the European Union has a rare opportunity to shape the emerging system and bolster the euro’s international role. But for the euro to become genuinely global, it must first become more European.

The dollar’s share of global f...

South Korea's exports nearly doubled in October from a year earlier, beating market expectations and marking the sharpest jump in more than 50 years, trade data showed on Sunday.

South Korea exports nearly double in October, strongest growth since 1974

Foreign ministers from the US, Australia, India and Japan on Saturday pledged to work on building reliable global supply chains and expressed grave concerns about what they called "economic coercion" through export restrictions and non-market practices, but stopped short of calling out China.

Indo-Pacific Quad ministers work on supply chains, denounce arbitrary export restrictions

Prime Minister Datuk Seri Anwar Ibrahim has announced an allocation of RM1 million to the Ministry of Entrepreneur Development and Cooperatives (Kuskop) to coordinate assistance for associations, hawkers and small traders to boost their income.

President Donald Trump's second attempt to sue the Wall Street Journal was dismissed with prejudice on Saturday, ending his pursuit of a defamation lawsuit over the news outlet's reporting on his ties to sex offender Jeffrey Epstein.

Judge ends Trump's attempts to sue Wall Street Journal over Epstein reporting

British Prime Minister Andy Burnham has said he is open to calls for a formal apology for Britain's historical role in slavery, before attending next week's Commonwealth summit at which he is likely to face demands for financial reparations.

UK PM Burnham says 'open' to formal apology for slavery, but rules out reparations

The Sarawak government is exploring potential collaboration with Russia in rocket and satellite launches, leveraging the state’s strategic location near the equator.

Deputy Defence Minister Adly Zahari will be named Pakatan Harapan's (PH) candidate for chief minister if the coalition succeeds in forming the state government following the 16th Melaka state election on Nov 14.

AG's Report 2023

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AG's Report 2023

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