Auditor General tells three GLCs to buck up

The Auditor General has flagged three government-linked companies (GLCs) for financial instability: Mara Inc, MRT Corp, and i2M Ventures.
Of the three, Mara Inc and i2M Ventures were found to have not met the objectives of their establishment.
Property management company Mara Inc’s corporate governance was also found wanting by the audit conducted between 2020 and 2023.
Mara Inc, which has received some RM500 million in capital injection and loans from Majlis Amanah Rakyat, or MARA, has not paid dividends since 2014.
Its accumulated losses stood at RM286.3 million and current liabilities at RM234.96 million in 2022.
MRT Corp was found to have met its objectives, with sound corporate governance but failed to meet ridership and operational targets for MRT 1 and MRT 2.
i2M Ventures, a Khazanah Nasional company, failed to achieve its business promotion objectives in Iskandar Puteri, Johor.
Read more: shorturl.at/OemHg
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[@shumyinghon]

incredible

[@samc269]

Endless corruption!

[@leelaitiam19]

Endless corruption. Tokoh politik curi duit rakyat. Mismanagement.

[@sukorcheembi1349]

Mara Inc should be read as Mara incorporated ls

[@rotomotor]

GLC's don't give a damn lose money or not, not their father's money anyway fat salaries big allowance huge perks still get

[@chuageokseng2168]

NEP's bailout coming to their rescue to comply with bumiputra agenda(My Rights®).

[@chuageokseng2168]

GLC are bumi-based goldmines.

[@sunmaemae]

What's new?

[@inezy6329]

Kat mana buat voice over? Bergema gema...teruk betul quality production.

[@Easyly1953]

Nobody will listen to him. Only the pmx can make changes, provided he wants to or knows how to.