KUALA LUMPUR, Feb 24 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) has spent a total of RM335 million or 89.6 per cent of the RM374 million allocated for research and development & commercialisation and innovation (R&D&C&I) programmes as of June 30, 2025.
Deputy Investment, Trade and Industry Minister Sim Tze Tzin said the expenditure ceiling allocation approved to MITI for the 12th Malaysia Plan (12MP) until June 30, 2025 was RM402 million.
“The value of the remaining unreturned grants of RM55.64 million (comprising RM33.97 million under the High Impact Project Fund (HIF) by MIDA and RM21.67 million by the High Value Added and Complex Product Production Development Programme (HVAD) is a continuation programme by the Ministry of Economy as stated in the approval in the MyProjek system,” he said when winding up the motion on the AG Report on the 2024 financial statements of federal agencies in the Dewan Rakyat today.
Sim was replying to a question from Mohd Hasnizan Harun (PN-Hulu Selangor) on the status of the remaining unreturned grants involving MITI.
He explained that the value of RM55.64 million was not returned because RM33.97 million under HIF was used to pay for HIF project commitments that had been approved and were still being implemented.
“The balance of HVAD was used to finance 28 new projects approved in the 12MP until Oct 31, 2025 which are still being implemented, totalling RM20.7 million,” he said.
Sim said MITI noted that approvals through the myProjek system were inadequate and governance needed to be streamlined in line with Treasury Circular PA3.2 as recommended by the National Audit Department.
“In this regard, MITI will obtain special approval for the HIF and HVAD programmes from the Ministry of Economy/Ministry of Finance as extension projects to pay for existing commitments until completion, where the project payment period is beyond the Malaysia Plan period set.
“Any remaining allocation for this programme will be returned after this programme is fully completed,” he added.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
