Limit govt guarantees for GLCs to contain debt, advises Auditor-General

  • 📰 staronline
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 75%

Malaysia Headlines News

Malaysia Latest News,Malaysia Headlines

KUALA LUMPUR: The Government should come up with a policy to limit government guarantees to contain its debt burden, says Auditor-General Datuk Nik Azman Nik Abdul Majid.

This follows concerns over the ability of five government subsidiaries to meet their debt obligations.

Section 8 of the Loans Guarantee Act 1965 states companies have the obligation to repay the advances from the government, he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Austerity measures trivial to minds of certain quarters of the society..Thank god..their not leading the finance department..For this society is all about 'Kita enjoi dulu,esok masih ade' Ade lagi ke?..Boros belanja semua duit dn jual semua asset( yg bernilai)..chedetofficial

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Govt must increase revenue, adopt prudent spending, says Auditor-General's ReportThe Auditor-General's Report 2018 says chief secretaries of ministries need to increase their hands-on involvement in financial matters. The best way to increase revenue is through GST. It has been proven in developed countries. Guanenglim
Source: fmtoday - 🏆 5. / 72 Read more »

Audit Dept to brief PAC tomorrow | The Malaysian InsightIt will be a follow-up to tabling of Auditor-General's Report 2018 on Friday.
Source: msianinsight - 🏆 8. / 63 Read more »

A-G's Report: Ceiling on government-guaranteed loans should be setNSTnation: “As of Dec 31, 2018, the overall loan repayment balance of RM66.341 billion would reach maturity in 2041, except for one with a balance of RM94.38 million which ends in 2019.'
Source: NST_Online - 🏆 17. / 53 Read more »

Moreno agrees to swap fuel subsidy cut with policy to aid the poorestDeal between govt and indigenous leaders ends unrest, curfew in capital. FMTNews Sabsidy
Source: fmtoday - 🏆 5. / 72 Read more »

Germany wants back door to encrypted Facebook platforms | The Malaysian InsightIt’s to enable authorities to fight crime, says govt statement.
Source: msianinsight - 🏆 8. / 63 Read more »

PM denies LTTE detentions to weaken any party | The Malaysian InsightPolice acted according to the law and without interference from the govt, says Dr Mahathir.
Source: msianinsight - 🏆 8. / 63 Read more »