He said the figure was based on the assessment made by the accountant-general’s department and the property valuation and services department. This involves government land and buildings assessed over 10 years since 2013.

Ahmad said the value of the federal government’s assets is expected to continue to rise as the valuation process is ongoing. Other assets, including those abroad, have yet to be assessed.

“The calculation covers government land and buildings and does not include other assets such as plants and machinery,” he said at a press conference after visiting the Johor property valuation office here today.

“The same goes for overseas assets that have yet to be assessed.

“We expect assets to increase by RM30 billion in value this year.”

He hoped the value of federal government assets would exceed the RM1.5 trillion national debt.