PUTRAJAYA, July 20 — The Minister of Finance (Incorporated) (MoF Inc) companies have contributed RM50.7 billion in dividends to the government for the financial year 2022, higher than the previous year’s RM28.1 billion dividend contribution, said Deputy Finance Minister 1 Datuk Seri Ahmad Maslan.
He said the dividend contribution needs to be continuously improved to enable it to be returned to the people in the form of development and financial assistance.
“(It can be improved) through proper management and governance,” he said at a press conference after officiating a leadership and good governance programme for the Mof Inc board of directors and federal statutory bodies, here today.
Ahmad Maslan said the dividend contribution will be put into a consolidated fund for the purpose of development and financial assistance to be enjoyed by all levels of the people.
MoF Inc is a corporate body established under the Minister of Finance (Incorporation) Act 1957. The Act provides the authority for MoF Inc to enter into contracts, acquisitions, purchases, possessions, and holdings while maintaining tangible and intangible assets.
Among the MoF Inc companies are Petronas, Amanah Raya Bhd, Cyberview Sdn Bhd, Felcra Bhd and Syarikat Perumahan Negara Bhd.
Ahmad Maslan said companies involved in the provision of infrastructure and utilities are among the MoF Inc companies which contribute a low dividend percentage to the government.
“These are companies facing challenges and cannot raise the price of their services to the people arbitrarily,” he said, giving Keretapi Tanah Melayu Bhd (KTMB) as an example of an MoF Inc company involved in public transport.