atans1

Only in M’sia

In Accounting, Malaysia on 16/08/2018 at 4:35 am

(Part of a continuing series)

You cannot make this up: How a billion M$ disappeared: an honest mistake in misplacing a decimal place.

On Aug 9, Lim Guan Eng, the M’sian finance minister said

the balance in the Refund Trust Fund was only RM1.486 billion as at May 31, 2018.

The latest is

“Actually, the amount left in the Refund Trust Account was about RM148.6 million only, and not RM1.486 billion as announced last week.

“This was due to an unintentional mistake by an officer in my office who displaced a decimal point,” he said.

Read more at https://www.channelnewsasia.com/news/asia/gst-refund-shortfall-malaysia-finance-minister-lim-guan-eng-10615042

 

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