PETALING JAYA: A total of RM3.77 billion in levies collected from employers for training development programmes has been used by the Human Resources Development Corporation (HRD Corp) to make several varied investments.
Public Accounts Committee (PAC) chairman Datuk Seri Mas Ermieyati Samsuddin reportedly revealed this among other issues over a nine-month long proceeding with HRD Corp.
It was reported that said investments by HRD Corp were valued at RM3.84 billion as of March.
Mas Ermieyati sternly reminded that HRD Corp is not an “investment institution,” as quoted, and these investments can put the corporation “at risk of huge losses”, as quoted, adding that HRD Corp’s levy collection showed a boost in 2023 from RM475 million in 2020 to RM2.134 billion.
She also said the increase was contributed by the expansion of the Human Resources Development Fund Act 2001, in which a levy was imposed on every industry.
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