KUALA LUMPUR, Oct 19 — Only 14 out of 27 government companies that recorded profit from 2005 till 2007 paid dividends to the government which amounted to RM72.21 billion.
According to the Auditor General Report 2008 released here today, out of these companies only four paid the dividends annually without fail during the three-year period.
Of them, Petroliam Nasional Bhd (Petronas) paid the highest dividend amounting to RM72 billion during the period, while the other three companies were Amanah Raya Bhd, Percetakan Nasional Malaysia Bhd and Technology Park Malaysia Corporation Sdn Bhd.
The report said the government's investment as at December 2008 stood at RM24.21 billion in 99 companies compared with an investment of RM23.23 billion in 2007 in 99 companies.
Total earnings for 48 of the companies in 2007 came to RM116.43 billion, reflecting a drop of 46.3 per cent compared with earnings of RM216.72 billion in 2006.
For the year, 27 companies registered a total pre-tax profit of RM78 billion while 21 companies reported losses amounting to RM870 million.
From 2005 to 2007, 11 companies consecutively recorded profit before tax amounting to RM218.56 billion while eight companies recorded collective losses of RM1.27 billion.
According to the report, companies that recorded losses were those that had been newly established or those yet to generate any income from their operations, such as companies formed for a social interest or as a special purpose vehicle without any profit motive.
Meanwhile, the liabilities of the government companies was reduced to RM67.64 billion in 2007 compared with RM120.92 billion in 2006.
The government companies with the highest liability came under the economic sector with a total amount of RM32.89 billion and this was followed by companies in the technology sector where the liability totalled RM27.61 billion.
An audit review till Dec 31, 2007, also found that only 17 of the 48 companies analysed had loans taken from the federal government.
The remaining debts of the 17 companies as at end of 2007 stood at RM14.11 billion compared with RM14.22 billion in 2006.
Perwaja Terengganu Sdn Bhd owed the highest amount at end of 2007 with a total of RM4.59 billion and this was followed by Export-Import Bank of Malaysia Bhd with a debt of RM1.98 billion. — Bernama
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