Auditor-General Nik Azman Nik Abdul Majid says there must be tighter criteria to set up Special Purpose Vehicle companies.
He said the previous government, which provided guarantees for the loans, repaid RM1.7 billion, and the present Pakatan Harapan repaid RM1.1 billion. “They should establish a policy to set a ceiling on government guarantees,” he told a press conference at Parliament House. Nik Azman also said the financial statements reflected the reality of the country’s financial situation.
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