Both government linked companies Sime Darby Sdn Bhd and Pos Malaysia Bhd are still financially stable, said Prime Minister Datuk Seri Najib Tun Razak.
He said in a written reply to Hee Loy Sian (PKR - Petaling Jaya Selatan) in Dewan Rakyat that Sime Darby had recorded RM1.7bil in pre-tax profit and RM804mil in net profit.
“Delays and costs overrun in four projects under the Energy and Utilities Division in the financial year ending March 31 this year were the reason for the losses suffered by Sime Darby,” he said, adding that the losses involved projects such as the Qatar Petroleum project and the Bakun hydroelectric dam project.
“The profit was contributed by its estate, industrial, land and motor vehicle divisions.”
Najib said the reported losses of Pos Malaysia Bhd was not “operational losses” but due to the devaluation of its stake in Transmile Group Bhd.
“It has never registered any operational loss since it was corporatised in 1992. Instead, it was able to pay out bonuses to its staff and dividends to share holders,” he said.
By LOH FOON FONG newsdesk@thestar.com.my
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