KUALA TERENGGANU, Nov 15 — The Terengganu State Economic Development Corporation (PMINT) investment properties were not managed efficiently and effectively, according to the Auditor-General’s Report (LKAN) 2019 Series 2.
Based on the report released today, in terms of activity performance, the percentage of rentals compared to available lots showed an increasing trend from 2017 to 2020, but the rental revenue target was still not achieved.
It was also revealed that the management of PMINT’s investment activities was inefficient as there were weaknesses in the enforcement of claims on arrears and loss of rental revenue had occurred due to the corporation’s failure to enforce the clause on rental rate review.
“PMINT also incurred losses in the project investment joint-venture in Paya Bunga (PB) Plaza,” according to the report.
In addition the report stated that the community programmes and small development projects in the constituencies implemented by the Kuala Terengganu, Besut and Hulu Terengganu district offices were satisfactory.
However, the report stated that it could not be determined whether the programmes or projects had met the needs of the people as intended because no specific mechanism or indicator was established to measure the success of the programmes or projects.
“As for the management aspect, there were still weaknesses in that there were programmes which were not in accordance with the state constituency guidelines, there were supplies/projects that did not fulfill the requirements/specifications and there were leakages of public funds due to false claims,” according to the report.
To rectify the weaknesses, the National Audit Department has submitted three recommendations on the management of PMINT’s investment properties and implementation of constituency community programmes and projects. — Bernama
