Based on the 2023 audited financial reports, Prasarana Sdn Bhd (Prasarana), Mass Rapid Transit Corporation Sdn Bhd (MRT), Keretapi Tanah Melayu Berhad (KTMB) and Jambatan Kedua Sdn Bhd (JKSB) are the Minister of Finance (Incorporated) [MKD] companies that recorded losses.
The Ministry of Finance explained that the losses of the companies involved were due to the implementation of public infrastructure projects, particularly rail and bridge transportation to provide affordable services to the people.
The Ministry also stressed that as the majority shareholder, MKD always strengthens controls to monitor the company's performance and corporate governance to be in line with the objectives and mandate of its establishment.
Among the monitoring measures implemented are the presentation of annual business plans, the setting and achievement reports of quarterly Key Performance Indicators (KPIs), in addition to the preparation of annual audited financial reports and quarterly financial management.
MKD also held Corporate Improvement Programme (CIP) Meetings for companies that failed to achieve at least 80% of KPIs, with the aim of identifying problems and discussing improvements to the company's structure.
MKD companies that failed to achieve KPIs were also asked to submit an explanation along with an action plan to improve their performance and financial position.
The Ministry of Finance informed that several MKD companies recorded profits including Bank Pertanian Malaysia Berhad (Agrobank), IJN Holdings Sdn Bhd, Bank Pembangunan Malaysia Berhad (BPMB), SIRIM Berhad and Pengurusan Aset Air Berhad (PAAB).
