Friday 29 Mar 2024
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KUALA LUMPUR (June 9): Prime Minister Datuk Seri Najib Tun Razak told Parliament today the government had to bear annual off-balance sheet payments of between RM4.76 billion and RM11.62 billion for its nine government-owned companies.

The payments are estimated from 2015 to 2020, according to Najib, who is also finance minister.

Off-balance sheet accounts include items that are effectively assets or liabilities of a company but do not appear on its balance sheet.

"Until March 31, 2015, there are nine government-owned companies under the Ministry of Finance Inc that has expenses that have been classified as off-balance sheet that is being borne by the government.

"The total yearly payment from 2015 to 2020 is between RM4.76 billion and RM11.62 billion," Najib said in his written reply to Kulim Bandar Baru MP Datuk Abdul Aziz Sheikh Fadzir.

Earlier, Abdul Aziz had asked Najib to specify the number of government-owned companies and off-balance sheet expenses borne by the government.

Abdul Aziz also requested Najib to specify the amount paid monthly or yearly under the off-balance sheet expenses.

 

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