Finance Minister: Almost RM10b in unclaimed monies submitted to AGC

Finance Minister Lim Guan Eng answers reporters’ questions in Parliament November 21, 2018. — Picture by Ahmad Zamzahuri
Finance Minister Lim Guan Eng answers reporters’ questions in Parliament November 21, 2018. — Picture by Ahmad Zamzahuri

KUALA LUMPUR, Nov 26 — Unclaimed monies amounting to RM9.974 billion from various entities had been submitted to the Accountant General’s Department as of October 31 this year, said Finance Minister Lim Guan Eng.

Of the amount, RM1.875 billion had been refunded and RM1.6 billion had been credited to set off against taxable income as the money had not been claimed within 15 years, he said.

“Therefore, the current balance in the unclaimed monies trust account stands at RM6.495 billion,” the minister said in winding up the debate on the 2019 Budget at committee stage on behalf of his ministry in the Dewan Rakyat today.

Lim said individuals who wanted to make a claim must submit several documents, including a copy of MyKad and an application for refund, while for deceased individuals, applications could be made by their next of kin by submitting a letter of administration to the estate.

Asked by Datuk Seri Dr Shahidan Kassim’s (BN-Arau) whether notices were given to individuals on the unclaimed monies, Lim said he was informed that notices were sent out but there were constraints such as when the address registered with the National Registration Department differed from the actual place of residence.

“On behalf of my ministry, I urge owners of unclaimed money to claim their funds, as they are able to do so if the period does not exceed 15 years,” he added.

In another development, Lim said eight government-linked companies that recorded losses for five consecutive years would not be closed down.

Among them were Astronautic Technology (M) Sdn Bhd, Halal Industry Development Corp, Indah Water Konsortium Sdn Bhd, Inno Bio Ventures Sdn Bhd, Malaysian Bioeconomy Development Corporation Sdn Bhd, Prasarana Malaysia Bhd and Syarikat Perumahan Negara Bhd, he added. — Bernama

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