RM12.8bil in unclaimed money awaiting owners

PETALING JAYA: The accountant-general’s department holds a total of RM12.8 billion in unclaimed money, the Dewan Rakyat was told today.

Finance minister II Amir Hamzah Azizan said companies and firms have handed over RM17 billion in unclaimed money to the accountant-general’s department, with RM4.2 billion successfully claimed by their rightful owners as of Oct 31, Bernama reported.

Amir, who was winding up his ministry’s debate on the 2025 supply bill in the Dewan Rakyat, said the accountant-general’s department has set up 184 booths nationwide to increase public awareness and encourage more people to come forward to claim the unclaimed funds.

He also said that the government is exploring a proposal to use updated data from the national registration department (JPN) to locate rightful owners or heirs and directly credit the funds into their accounts.

Separately, Amir said his ministry was working with the energy transition and water transformation ministry to review a request for an imbalance cost pass-through (ICPT) payment of RM162 million to Sabah Electricity Sdn Bhd for the period from June to December 2023.

He added that the finance ministry was also considering a moratorium on the repayment of Sabah Electricity’s loan to the government, which is estimated to be around RM65 million, Bernama reported.

Amir said the government is committed to providing Sabah with an electricity subsidy of RM3.54 billion over seven years, until 2030, in line with an agreement for the state to regulate its own electricity and gas supply.