AG'S Report: Statutory bodies of 8 ministries record loan increase
KUALA LUMPUR: The statutory bodies of eight ministries recorded an increase in loan amount, while that of five ministries showed a decline and that of 10 ministries did not take any loan at all in 2016.
The loans taken by statutory bodies under the Ministry of Defence increased RM68.81 million to RM105.84 million from the previous year, said the Auditor-General's Report 2016 Series 2 (Conformation of Financial Statement of Federal Statutory bodies, Federal Funds, Trust Accounts and other Agencies) released today.
On another hand, the the loans taken by statutory bodies under the Ministry of Education declined RM26.69 million in 2016 to RM35.52 million in 2015.
The audit analysis found that the National Higher Education Fund Corporation recorded the highest loan balance of RM40.35 billion in 2016 followed by the Federal Land Development Authority (RM6.82 billion), Port Klang Authority (RM3.804 billion), Malaysian Timber Industry Board (RM0.932 billion).
The other federal statutory bodies recorded a loan balance of RM2.384 billion, the report said.
It said 13 federal statutory bodies recorded an increase in loan balance, another 12 showed a decrease, while 101 had not taken any loans," it said.
The report said five federal statutory bodies recorded the highest percentage increase in loan balance in 2016 compared with that of 2015.
Perbadanan Perwira Niaga Malaysia recorded the highest increase in loan balance at 185.8% due to the increase in bank overdrafts amounting to RM21.74 million and an increase in banker's acceptance and revolving credits amounting to RM17 million and RM21.18 million, respectively.
Perbadanan PR1MA Malaysia recorded the second highest increase in loan balance at 103.7% due to the restructuring of the financing facility agreement with a total new financing of RM2.5 billion for 35 projects under construction.
The loan balance of the Inland Revenue Board in 2016 is zero as all the term loans had been settled, the report said. — Bernama