KUALA TERENGGANU – The 2022 Auditor-General’s Report, released today, has raised concerns over the performance of Ketengah Holding Sdn Bhd’s subsidiaries, particularly in the sectors of livestock and quarrying.
According to BERNAMA News Agency, The report acknowledges that Ketengah Holding has met its objectives as a holding and management Services Company, yet points out that the key performance indicators (KPIs) set by the company are not comprehensive. Furthermore, the report states that the revenue performance of Ketengah Holding’s main activities, with the exception of agriculture, has been unsatisfactory, although dividend receipts have exceeded targets.
Inefficiencies were notably evident in the management of subsidiary activities within the livestock and quarrying sectors. The audit found that quail production significantly lagged behind targets, with output ranging between 22.4% and 52.3%. The absence of an effective marketing plan for quail products, alongside the poor condition of facilities and equipment, were cited as contributing factors.
The quarrying sector also showed suboptimal performance, with outputs not meeting targets and issues including irregular maintenance of quarry machinery. The Pondok Limau Quarry in Dungun has been non-operational since 2016.
Additionally, the report noted a downward trend in revenue from 2019 to 2021 in the subsidiary companies’ activities in livestock, quarrying, and education. This decline coincided with an accumulated debt of RM8.87 million that remained uncollected for over 120 days. Furthermore, a capital funds injection of RM2.35 million by Ketengah Properties reportedly did not align with the approved allocation.
Recommendations from the report include the development of comprehensive KPIs that encompass all subsidiary business areas, enabling better monitoring and evaluation by Ketengah Holding’s management and board of directors. Improvements in the management of livestock and quarrying activities were also advised, with an emphasis on optimizing production, maintaining machinery regularly, and reducing repair costs.
