00:00Mass Rapid Transit Corporation Sundaran Berhad should not be judged for the losses it incurred.
00:10Transport consultant Wan Agil Wan Hassan said the Auditor General's report's finding
00:14that MRT Korp, like financial stability, did not reflect the company's true purpose.
00:20He said MRT Korp was established as a special purpose vehicle to develop and own all assets
00:26linked to the MRT system in the Klang Valley.
00:29Wan Agil said the losses mentioned in the report were actually the costs incurred in
00:33constructing the MRT-1 and MRT-2 lines.
00:38He explained that the government provided the capital to MRT Korp for the construction
00:42of MRT-1 and MRT-2.
00:44It was always envisaged that Pujaya would foot the bill.
00:48It is also standard accounting practice to record all sums provided by the government
00:52as expenses, Wan Agil said.
00:55He said the government never imposed any requirement on MRT Korp to earn enough to
01:00pay off construction costs or generate a profit either.
01:04Last week, the AG's report revealed that MRT Korp had suffered a RM181.5m loss before
01:10tax in 2023, and accumulated losses of RM57.624bn since it was established in 2011.
Comments