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KUALA LUMPUR, Nov 10 (Bernama) — The revenue of 116 subsidiaries of Federal Statutory bodies rose 4.4 per cent to RM4.07 billion in 2013 versus RM3.90 billion recorded in 2012.
The 2013 Auditor General’s Report (Third Series) revealed that Majlis Amanah Rakyat (MARA) generated the highest revenue of RM1 billion, up 6.2 per cent from a year earlier.
Bank Simpanan Nasional, the Pilgrims Fund Board, the Employees Provident Fund, Federal Territory Islamic Religious Council, Universiti Malaya and the Construction Industry Development Board also showed improvements.
The rest included Universiti Kebangsaan Malaysia, Universiti Malaysia Pahang, Putrajaya Incorporated, the Malaysia Agriculture Research Development Institute and Universiti Utara Malaysia.
The report also said pre-tax profit eased 5.6 per cent to RM378.14 million against RM400.68 million recorded in 2012.
Bank Negara Malaysia contributed the highest revenue of 36.5 per cent in 2013 followed by MARA (15.3 per cent) and EPF (11 per cent).
The report said subsidiaries which had high operational cost and were inactive incurred losses.
The audit analysis also showed that zakat and tax payment last year rose 48.6 per cent to RM65.52 million against RM44.10 million recorded in 2012.
“BSN paid the highest taxes and zakat amounting to RM12.85 million and accounted for 19.6 per cent of the overall taxes and zakat collected,” the report said.
It also said 39 subsidiaries and sub-subsidiaries were gazetted as not active.
Five companies are in the midst of being dissolved and Malaysia Convention & Incentive Bureau Sdn Bhd and LSM Aqua Sdn Bhd were already dissolved.
A total of 43 subsidiaries registered profits, 30 companies accumulated assets, two companies registered a drop in liabilities, 38 recorded an increase in shareholders’ fund and 43 showed positive return on equity.
A total of 31 subsidiary companies paid dividends to their parent companies in 2013 and 10 of them paid dividends continuously for five consecutive years, the report said.
Source: — BERNAMA
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