BUKIT LANJAN: Nip in the bud problem of poor managements!


 BUKIT LANJAN: Nip in the bud problem of poor managements!

 The Star Online’s report titled “Auditor General's Report: Tekun's failed schemes led to RM209mil losses” is neither surprising nor shocking to Malaysians.

The performance of government departments and government-linked companies (GLCs) have been hogging news headlines for all the wrong reasons for decades, beginning with the Bank Bumiputra Scandal, Perwaja Steel and many others.

“But, what is clear and telling in the Auditor-General (A-G)’s Report is that the National Entrepreneurial Group Economic Fund (Tekun)'s various programmes failed to achieve its goals due to poor management and lack of research,” Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said.

“This means incompetent individuals have been appointed to head government departments and GLCs. This is absolutely unacceptable,” he added.

Syed Razak said the economic growth of a country depended on the competency, wisdom and integrity of leaders.

“It is common sense to say that a country’s socio-economic progress will be stunted if the majority of leaders, heads of departments, etc are incompetent,” he added.


Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), said in the case of Tekun, “the failure cannot and must not be treated lightly”.

“Tekun has to date received a RM1.86 billion loan from the Finance Ministry and another RM670 million grant from the Agriculture Ministry.

“These are no small amounts that belong to taxpayers. Adequate measures must be adopted and taken to ensure such huge funds are not being misused or squandered away by incompetents.

“Perhaps, it is time for the federal government to conduct a nationwide review of the performance of all departments and GLCs and to take whatever immediate action and measures to nip the problems in the bud.

“Start with taking the A-G’s annual reports seriously and act accordingly without fear or favour,” he added.

Here’s what The Star Online reported:

"Nation
Home>News>Nation
Monday, 31 July 2017 | MYT 1:55 PM

Auditor General's Report: Tekun's failed schemes led to RM209mil losses

BY MEI MEI CHU


PETALING JAYA: The National Entrepreneurial Group Economic Fund (Tekun) recorded a loss of RM209.28mil at the end of 2015 due to several failed financing schemes, according to the 2016 Auditor-General's report.

From 1998 to June 2016, Tekun received a RM1.86bil loan from the Finance Ministry and another RM670mil grant from the Agriculture Ministryfor the purposes of the Economic Stimulus Package 聽as well as to aid flood victims and for the Young Indian Entrepreneurs Development Scheme.

However, the report found that Tekun's various programmes failed to achieve its goals due to poor management and lack of research.

"The failure of the Tekun Entrepreneur Portal, Tekun Entrepreneur Community Card and Cybermall resulted in a loss of RM872,035," the report said.

Other failed schemes named in the report were the Tekun Credit Financing Scheme, the Mentor Mentee Programme and the Entrepreneur Development Programme.

"The period and targeted outcome for the six Entrepreneur Development Programmes were not defined," the report said.

"The Tekun Credit Financing Scheme failed to achieve its target due to lack of reception from supply companies," it added.

The report also noted that the members of Tekun's Audit, Integrity, and Risk Committee did not possess an accounting background and that its corporate financial management was disorganised.

Tekun is an agency under the Ministry of Agriculture and Agro-based Industry.
Earlier this year, former Tekun managing director and chief executive officer Datuk Abdul Rahim Hassan was charged with two counts of corruption at the Sessions Court."



N.37 LET BUKIT LANJAN SOAR WITH SYED ABDUL RAZAK ALSAGOFF

Comments

Post a Comment

Popular posts from this blog

BUKIT LANJAN: What will happen to those who can’t think out of the box, can’t change or can’t evolve?

Image
An oil drilling platform operated by Statoil ASA in the North Sea near Bergen, Norway. The country is Europe’s dominant producer of oil. CreditKristian Helgesen/Bloomberg, via Getty Images Norway’s Wealth Fund Considers Divesting From Oil Shares By  CLIFFORD KRAUSS NOV. 16, 2017 Norway’s $1 trillion sovereign wealth fund is considering a divestment of holdings in international petroleum companies, a sign that even Europe’s dominant producer does not have full confidence in oil’s future. The recommendation on Thursday by the Norwegian Central Bank, which manages the fund, is potentially the biggest advance yet for a global fossil-fuel divestment campaign that has been promoted on college campuses and by environmental activists. It could also be a setback for the proposed initial public offering of the Saudi national oil company, known as Aramco, since the Norwegian sovereign wealth fund, the world’s largest, would be a potentiall...
Read more

BUKIT LANJAN: Graduates getting employed through connections and status? That’s very unhealthy!

Image
Unemployment in Malaysia [Infographic] Michelle Leo 19 Jan 2016 / Career Planning , Infographic , Jobs , Unemployment “Study hard. Get a degree. Find a good job. Live happily ever after.” Sounds familiar? Every year, over 200,000 students graduate from institutions of higher learning . Shockingly, 1 out of 4 graduates remain unemployed 6 months after graduation, with the majority being Degree holders. These graduates make up 35.3% of those who are unemployed . Here’s the hard truth — being a university graduate no longer guarantees you a job. As the number of graduates continue to climb each year, students are facing tough competition amidst a shaky economy. In this infographic, find out the truth behind why fresh graduates are unemployed in Malaysia, and learn about what you can do as a student to increase your employability! … for more, go to https://eduadvisor.my/articles/what-didnt-know-fresh-graduate-unemployment-malaysia- infographic/ BUKIT LANJAN: Graduates getting employed...
Read more

BUKIT LANJAN: DOSH and all related construction authorities must buck up

Image
BUKIT LANJAN: DOSH and all related construction authorities must buck up It is quite obvious that something is not very right with the way the Department of Occupational Health and Safety (DOSH) and all related construction authorities are monitoring work safety at construction sites. There have been quite a number of tragic and non-tragic incidents at construction sites recently and yet accidents continue to recur despite DOSH’s claims that it has set up safety committees to tighten inspections. Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said: “There was the woman who was crushed to death by a crane hook that fell on her Perodua Kelisa from 20 storeys up. “This was followed by the collapse of the KL Eco City pedestrian bridge that claimed a life. And now a crane has collapsed at the Bandar Damansara Perdana (BDP) construction site.” Syed Razak said such tragic and non-tragic mishaps at construction would not occur or could have been avoided if high and competent constr...
Read more