PETALING JAYA: Four federal agencies have liabilities exceeding their assets and this could affect their future performance, says the Auditor-General's Report for 2022.
They are the Highway Authority of Malaysia (LLM), PR1MA Corporation Malaysia, Perbadanan Hal Ehwal Angkatan Tentera (Perhebat) and Perbadanan Perwira Harta Malaysia (PPHM).
The report noted that LLM had liabilities amounting to RM1.765bil against assets of RM1.364bil, or a deficit of RM392mil.
The report also found that LLM had yet to spend RM875.59mil and held a government loan balance of RM767.58mil.
On the other hand, PR1MA had a shortfall of RM125mil based on total assets of RM5.621bil against total liabilities of RM5.746bil.
The report also stated that PR1MA issued sukuk bond obligations totalling RM3.75bil.
Meanwhile, Perhebat had total liabilities amounting to RM45mil against assets worth RM32mil, with RM24.57mil set aside as employee benefits.
PPHM, the report said, had liabilities totalling RM73mil against assets of RM66mil, with reserve holdings worth RM37.07mil.
Overall, the report said, 126 out of 130 federal agencies audited had total assets worth RM2.491bil against liabilities totalling RM903.6mil.
The report noted that assets of the 126 agencies increased by 3.4% or RM82.6mil in 2022 from the previous year.
However, liabilities of the 126 also increased by RM119.89mil or 15.3% from 2021 to 2022.
