Forensic audit on GLCs to continue, says Johor MB

The state government will continue to carry out forensic audit on Johor government-linked companies (GLCs), says Menteri Besar Osman Sapian.

He said the need was there after scrutinising the financial accounts of these GLCs.

Independent audit firms would be engaged to carry out the financial inspection of these companies’ accounts to determine if there were any leakages in expenditure under the previous government.

Johor Corporation (JCorp) and YPJ Holdings have bee identified for forensic auditing, said Osman during the winding-up of the Johor 2019 budget at the State Legislative Assembly in Kota Iskandar yesterday.

“As an example, JCorp has debts of RM4.16 billion. I don’t deny that JCorp has contributed significantly to Johoreans in many ways in the likes of Waqaf An-Nur Clinics, employment opportunities and affordable houses and many more," he said.

Osman admitted that JCorp was also consistent in its repayment of loans as scheduled.

"However, there is still a need to carry out forensic audit to determine if there is any leakages."

Osman announced on Nov 16 that the state government wanted to carry out the audit to find out why such things as business duplications occurred.

- Bernama