KUALA LUMPUR, March 6 — The Auditor-General’s Report for the year 2022, focusing on the financial statements of federal agencies, revealed that the combined asset position of 130 federal agencies reached RM2,491.931 billion as of December 31, 2022.
The report said this signified an uptick of RM82.861 billion or 3.4 per cent compared to the asset position documented in 2021, which stood at RM2,409.070 billion.
“The liabilities position for 130 federal agencies reached RM903.613 billion, showing an increase of RM119.896 billion (15.3 per cent) compared to the liabilities in 2021, which amounted to RM783.717 billion,” it said.
The report said a collective sum of RM27.034 billion in operational and development grants was distributed to 86 federal agencies by the federal government while 83 of them have amassed unamortised development grants totalling RM25.535 billion.
Additionally, the report unveiled that 24 federal agencies currently hold outstanding loans totalling RM123.137 billion.
“Among these, it added that 10 federal agencies stand out with the highest loan balance, reaching RM122.388 billion, constituting 99.4 per cent of the overall loan value of RM123.137 billion,” it added.
It went on to say that 53 federal agencies invested RM56.128 billion in 234 subsidiary companies, with 212 active and 22 dormant.
Of these, it revealed that 121 subsidiaries made a net profit in 2022, 91 incurred losses, and 66 paid dividends totalling RM1.910 billion to the federal agencies.
As a result, the audit recommended that federal agencies should undertake cost-saving measures, strengthen revenue-generating efforts, ensure the continuity of operations in line with the going concern principle, and optimise grant utilisation by consulting relevant ministries.
It also suggested federal agencies allocate loans for main activities with adherence to repayment schedules, and review the incorporation status of subsidiary companies to prevent operational cost burdens.
