Financial performance of federal statutory bodies improves 6.9%

KUALA LUMPUR: The financial performance of federal statutory bodies under 23 ministries improved 6.9%, or RM7.06 billion to RM109.23 billion, compared to RM102.17 billion in 2015.
According to the Auditor General's Report 2016 Series 2 (Conformation of Financial Statement of Federal Statutory bodies, Federal Funds, Trust Accounts and other Agencies), of this amount, self generated revenue was RM90.63 billion, management grants was RM13.54 billion, and settlement of other grants was RM5.07 billion.
According to the report, the audit found that federal statutory bodies under the Ministry of Finance posted the highest revenue (RM62.44 billion) in 2016, followed by the Higher Education Ministry (RM17.24 billion), the Prime Minister's Department (RM6.64 billion), and the Rural and Regional Development Ministry (RM6.33 billion).
The audit analysis for the federal statutory bodies under the Finance Ministry saw the Employees Provident Fund register the highest revenue at RM46.75 billion, with the Retirement Fund Incorporated (RM7.64 billion), Majlis Amanah Rakyat (RM4.68 billion), Social Security Organisation (RM4.47 billion), and other statutory bodies (RM45.36 billion).
The report also highlighted that the income of federal statutory bodies according to ministries found that 14 recorded an increase, while nine others a decline in 2016.
Federal statutory bodies under the Ministry of International Trade and Industry recorded the highest percentage increase of 55.5%, that is RM1.18 billion in 2016 compared to RM756.80 million the previous year.
This was the result of an increase in Non-Business Transactions by the Malaysian Investment Development Authority (Mida), and namely the receipt of a development grant of RM420.40 million for 2016.
Mida also registered the highest percentage revenue increase of 282.6% resulting from the receipt of a government grant for management, development and a special account, while the Perbadanan PR1MA Malaysia posted a 212.1% increase from the sales of houses starting 2016, as well as an improvement in the operations income from tender fees and exhibition site. — Bernama