Terengganu MB pledges tighter oversight after 20 state firms record RM24m losses

Terengganu Menteri Besar Datuk Seri Ahmad Samsuri Mokhtar said the state government is strengthening oversight of its subsidiaries after 20 of 26 companies recorded combined losses of RM24.01 million in 2024. — Bernama pic

First Published: Wednesday, 28 Oct 2026 3:21 PM MYT

KUALA TERENGGANU, Oct 28 — The Terengganu state government is conducting regular monitoring and improving management to restore the financial performance of its subsidiaries, after 20 of the 26 companies recorded combined losses of RM24.01 million in 2024.

Terengganu Menteri Besar Datuk Seri Ahmad Samsuri Mokhtar said the state government conducts internal audits and works with the National Audit Department to monitor the financial position, operational performance and challenges facing government-linked companies (GLCs).

He said the state government held meetings almost every month to assess the companies’ progress, including reviewing financial reports and identifying necessary improvements.

“We welcome the audit findings and are continually working to improve the situation. Compared with 10 years ago, there has been a marked difference in efforts to minimise the losses suffered by the companies,” he said after attending the Terengganu Biodiversity Seminar at Wisma Darul Iman here today.

He was responding to questions about the financial performance of Terengganu-owned subsidiaries after findings from the Auditor-General’s Report Series 2/2026 on the state went viral.

Meanwhile, Ahmad Samsuri said the state government was also focusing on efforts to improve the companies’ performance, including restructuring operations of those not generating revenue.

He said the state government would regularly review the financial performance of the companies involved to ensure continuous improvement. — Bernama