The Auditor General’s recent report has highlighted a significant loss of public funds, revealing that Walesi Pte Ltd disposed of $2.2 million worth of unused Redflow batteries in 2021, which was deemed a misuse of taxpayers’ money. This finding was part of a broader audit focused on Public Enterprises and Other Entities, presented in Parliament.

The report indicates that the Walesi Board of Directors approved the decision to dispose of these batteries on July 28, 2021. Walesi had initially acquired a total of 162 Redflow batteries between 2017 and 2018, following a recommendation from a consultancy firm engaged by the Project Management Company of Walesi Ltd. The acquisition cost amounted to $2.6 million. Ultimately, only 26 of these batteries were distributed for solar deployment, with the remaining 136 batteries stored improperly and left unused.

Issues arose from improper storage, which led to the leakage and subsequent disposal of the batteries, resulting in a significant financial loss of over $2.2 million. The Auditor General’s report suggested that management should investigate whether there was any negligence on the part of the Project Management Company or Walesi Ltd and take necessary actions based on the findings.

Walesi responded by clarifying that it was the responsibility of the project manager at that time to manage the storage and deployment of the batteries. They also noted that until 2019, the organization was overseen by the Ministry of Communication, which meant that the ministry’s asset management policies were adhered to during that period.

This situation serves as a critical reminder of the importance of proper asset management and oversight in public enterprises. Moving forward, it is essential for organizations to establish rigorous management practices to avoid similar financial missteps, ultimately ensuring better utilization of public funds and resources.

By conducting a thorough inquiry and reforming their management protocols, Walesi can turn this unfortunate incident into an opportunity for improvement, fostering transparency and accountability in their operations.