KUALA LUMPUR: The Federal Land Development Authority (Felda), National Trust Fund (KWAN) and Kuala Lumpur City Hall (DBKL) are among five federal agencies that recorded the highest deficit in 2022, the Auditor General's (AG) Report said.
According to the AG's Report Analysis of Financial Statements of Federal Agencies for the Year 2022, the other federal agencies that recorded the highest current deficit during the same year were the Kumpulan Wang Industri Elektrik (KWIE) and the Railway Asset Corporation (RAC).
The five agencies, the report said, recorded a combined total of RM3.115 billion in deficit for 2022.
Of the five agencies, Felda recorded the highest with a total of RM1.97 billion in expenses, which exceeded its revenue of RM0.942 billion for 2022. This, the report said, had resulted in Felda accruing a RM1.005 billion deficit for the year.
"The expenses recorded by KWIE reached RM1.015 billion, which exceeded the RM0.025 billion in revenue generated for 2022. This resulted in KWIE ending up with RM0.990 billion in deficit for the year.
"KWAN's deficit in 2022 stood at RM0.353 billion after its expenses of RM0.922 billion exceeded the RM0.569 billion in revenue generated for the year.
"Such a situation for KWAN incurred the expenses from the procurement of Covid-19 vaccines of RM0.896 billion," the report said.
As for DBKL, the report said the city hall expenses for 2022 stood at RM2.792 billion, which exceeded its revenue of RM2.509 billion for the year. This resulted in DBKL incurring a RM0.283 billion deficit in 2022.
"The situation was due to the increase in services and supply expenses of RM0.267 billion meant for the maintenance of public facilities and housing, as well as city cleaning programmes."