An audit review of MHSB's tenant records found that the failure to achieve the rental target was due to the fact that 49 out of the 137 premises or 35.8 per cent were vacant as the tenants had either shifted or closed shop or the shops had no tenants.
'Based on the audit analysis, the vacancy of 38 unrented units at Bazaar MAINS had financial implications on MAINS and MHSB whereby MAINS may have lost rental revenue totalling RM235,017 or 26.3 per cent,' the report said.
The loss caused MHSB to lose management fee income totalling RM11,751 or 15.1 per cent throughout the vacancy period.
'The audit team was also informed by MHSB at the exit conference meeting on January 9, 2018, that in 2016, traders were directed to temporarily vacate the premises for repair work to take place, and after the repair works were done, there were traders who refused to return,' the report said.
Alejano and Acedillo said the MHSB, as proposed in House Bill 6382, replaces the Military Shrine Services (MSS), which was created by virtue of Presidential Decree 1076.
The MHSB shall be exempt from all taxes on its income.