Terengganu MB pledges tighter oversight after 20 state firms record RM24m losses

KUALA TERENGGANU, Oct 28 — Terengganu's Chief Minister, Datuk Seri Ahmad Samsuri Mokhtar, has pledged tighter oversight of the state's government-linked companies following a report that 20 out of 26 companies recorded a combined loss of RM24.01 million in 2024. The chief minister stated that the government conducts internal audits, collaborates with the National Audit Department, and holds monthly meetings to assess the performance of the state-owned enterprises.

Samsuri acknowledged the progress made since 10 years ago, noting that significant efforts have been made to reduce the losses suffered by the companies. He also mentioned that the state government is focusing on improving the performance of companies that are not currently generating revenue, including restructuring their operations.

The Chief Minister's comments came after attending the Terengganu Biodiversity Seminar at Wisma Darul Iman, as he responded to questions regarding the financial performance of Terengganu-owned subsidiaries after the Auditor-General's Report Series 2/2026 on the state became widely known.