A-G’s Report: HRD Corp invested levies on high-risk investments

KUALA LUMPUR: HRD Corp had invested levy collected from employers on several high-risk investments, despite the training fund not being an investment institution, the Public Accounts Committee (PAC) had uncovered.

The training fund’s levy collection stood at RM2.134bil in 2023, which is a steep increase from RM475mil in 2020. The increase was due to the expansion of scope under the Pembangunan Sumber Manusia Berhad Act 2001, which mandated employers from all industries to contribute.