Federal statutory bodies' liabilities higher in 2016

KUALA LUMPUR: The liabilities of 126 federal statutory bodies under 23 ministries rose by RM5.51 billion in 2016 to RM144.01 billion, compared to RM138.51 billion in the previous year.
The federal statutory bodies under the Ministry of Higher Education had the highest liabilities totalling RM54.82 billion, followed by the Ministry of Finance (RM35.04 billion), the Prime Minister's Department (RM16.39 billion) and the Ministry of Rural and Regional Development (RM11.27 billion).
"The federal statutory bodies under other ministries have liabilities totalling RM26.50 billion," said the 2016 Auditor-General's Report (Confirmation of Financial Statement of Federal Statutory Bodies, Trust Accounts and Other Agencies) issued by the National Audit Department.
The current and non-current liabilities of the federal statutory bodies comprised major components such as loans, overdrafts, creditors, deposits and advances, it said.
The National Higher Education Fund Corporation recorded the highest liabilities totalling RM43.34 billion in 2016, followed by Bank Simpanan Nasional (RM27.403 billion), Majlis Amanah Rakyat (RM11.15 billion) and the Federal Land Development Authority (RM9.93 billion).
Ministry-wise audit analyses on total liabilities of the federal statutory bodies found 13 ministries recording increases in total liabilities, with 10 ministries registering a reduction in total liabilities in 2016.
The federal statutory bodies under the Ministry of Housing and Local Government posted an increase of 226.2% to RM893.60 million in total liabilities, from RM273.92 million recorded in the previous year.
The federal statutory bodies under the Ministry of Health recorded the highest reduction of 48.9% in total liabilities to RM10.90 million in 2016, compared to RM21.35 million in 2015.
In 2016, loan balance of 25 federal statutory bodies under 13 ministries amounted to RM54.29 billion, posting an increase of RM6.11 billion or 12.7% compared to RM48.18 billion in 2015.
Federal statutory bodies under the Ministry of Higher Education had the highest loan of RM40.58 billion followed by the Prime Minister's Department (RM7.06 billion), Ministry of Transport (RM4.22 billion) and Ministry of Plantation and Commodity Industries (RM0.93 billion). — Bernama