AG's Report: Statutory bodies record higher internally-generated revenue

KUALA LUMPUR: Federal statutory bodies (FSBs) under 23 ministries have recorded RM90.63 billion in internally-generated revenue (IGR) in 2016, a 3% increase compared to RM88.03 billion in 2015.
IGR is income derived from investments in subsidiary companies, equity, securities, bonds, fund managers, fixed deposit, loans, education fees, and sale of products and services.
According to the 2016 Auditor-General's Report, FSBs under the Finance Ministry registered the highest IGR of RM62.26 billion in 2016.
"This is followed by the Higher Education Ministry (RM7.110 billion), Prime Minister's Department (RM6.172 billion) and Human Resource Ministry (RM4.541 billion), while the other ministries have generated RM10.550 billion in IGR," it said.
Nine ministries recorded an increase in their IGR while 14 ministries registered a decline in the receipt of management grants, the report said.
In terms of increase, the report said, the FSBs under the Ministry of International Trade and Industry achieved the highest IGR increase rate of 105.7% in 2016 compared to the previous year.
Malaysian Investment Development Authority contributed a significant increase of 1,650.1%, or RM502.40 million, in 2016, which mainly comprised interests from its fixed deposit account, it said.
Overall, the report said, 49 FSBs recorded increases while 77 others registered declines in their IGR 2016.
It said the Employees Provident Fund achieved the highest IGR of RM46.75 billion in 2016.
The report said six Federal Consolidated Funds and Trust Funds have registered a decline in their IGR in 2016, while no IGR was recorded by the Heritage Fund. — Bernama