KUALA TERENGGANU, Oct 28 — The Terengganu state government is stepping up monitoring and management of its subsidiaries to improve their financial performance after 20 out of 26 companies recorded combined losses of RM24.01 million in 2024.

Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar said the state government had been conducting regular monitoring, internal audits and performance reviews to identify weaknesses and address challenges faced by the companies.

He said meetings were held almost every month to review financial reports, assess operational progress and determine appropriate measures to improve the performance of government-linked companies (GLCs).

“We welcome the findings of the Auditor-General’s Report and will continue to improve the management of our subsidiaries,” he said.

Ahmad Samsuri was speaking to reporters after attending the Terengganu Biodiversity Seminar at Wisma Darul Iman here today.

He was responding to questions following the findings concerning Terengganu’s subsidiaries in the Auditor-General’s Report Series 2/2026.

He said the state government was also working with the National Audit Department to strengthen oversight and ensure that the companies’ financial positions and operational performance were monitored effectively.

Companies that were not generating revenue could undergo operational restructuring to improve their performance and reduce losses.

Ahmad Samsuri said the state government’s efforts to minimise losses had shown improvement compared with a decade ago, adding that regular reviews would continue to ensure sustained progress.

The state government remains committed to strengthening accountability, improving corporate governance and ensuring that its subsidiaries operate more efficiently and contribute positively to Terengganu’s economic development.

–Bernama