PONTIAN: The Election Commission (EC) should make it compulsory for all candidates contesting in future elections to declare their assets, says Muda co-founder Lim Wei Jiet.
Lim, who is contesting the Tanjung Piai seat in a three-cornered fight, said this would allow transparency and accountability among future MPs and ministers.
"The declaration of assets is not to show how much money we have but to ensure full accountability.
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"For example, if I only have RM100,000 now and the assets later grow to RM5mil after being an MP for a few years, the public could question me.
"This is also to make sure that there is no conflict of interest if we hold shares in any companies," he told a press conference here on Friday (Nov 11).
Lim declared that his net assets amounted to RM472,410 as of Sept 30 this year.
"This includes RM16,986 in a local bank account, paid-up capital of my law firm at RM20,000, RM144,047 in my Employees Provident Fund (EPF) and a car with estimated market value of RM48,000.
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"For overseas assets, I also have RM820 in a Singapore bank account, RM166,519 in US public-listed company stocks and exchange-traded funds as well as RM6,068 in cryptocurrency," he said.
He added that he also has 50% ownership of a condominium in Petaling Jaya that is valued at RM639,000 in total.
"For liabilities, I still have bank loans of RM18,434 for the car and RM255,366 for the house," he said.
Lim urged other candidates for the Tanjung Piai seat to also declare their assets for full transparency.
