Report: PTSB’s specific function approval can’t be confirmed

The approval for the specific function of Perwaja Terengganu Sdn Bhd (PTSB) to handle the repayment of loans to the government through the disposal method of RM4.59 billion could not be confirmed due to the lack of relevant documents.

According to the Auditor-General’s Report 2021 Series 1 released today, the special purpose vehicle (SPV) has been established to carry out special functions whether with the approval of the finance minister based on the Minister of Finance (Incorporation) Act 1957 (Act 375), the decision of the...