AUDIT REPORT | Treasury secretary-general Mohd Irwan Serigar Abdullah said the latest auditor-general's report did not reveal any misuse of funds.

“There was no big fraud (in the auditor-general’s report).

“There were operational things which need to be tightened up,” Irwan said during a press conference after he launched online radio station eFM in Cyberjaya today.

He was asked to comment on the Auditor-General’s Report 2016 Series 2, which was tabled in the Dewan Rakyat yesterday.

Irwan said they will work closely with the ministries to improve on these operational issues.

Among the issues highlighted in the audit were temporary occupation licenses (TOL) applications which were delayed by up to nine years, irregularities worth billions in Bintulu Port projects as well as the Cooperatives Societies Commission (SKM) failing to collect  up to RM240 million in loan repayments.

The auditor-general's report had also mooted the setting up of investigation committees to deal with the irregularities, extravagance and wastage.

The online radio station eFM, which Irwan launched today in his capacity as the Global Entrepreneurship Movement (GEM) founder, is a 24-hour station aimed at promoting a culture of entrepreneurship.

The station has multiple platforms which include live radio, video streaming, podcasting and social network integration.

It promises to offer in-depth perspectives on entrepreneurial insights and trends for the start-up and business communities.

The station is supported by the National Entrepreneur Development Office (Nedo) under the Finance Ministry, in collaboration with Malaysian Global Innovation and Creativity Centre (MaGIC).