ASSET declaration is required for C-suite executives of government-linked investment companies (GLICs) in which the Federal Government has a direct interest, says Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa (pic).
This applies to senior management and board members of such companies.
“For GLICs with direct Federal Government interests such as the Employees Provident Fund, Retirement Fund (Inc), Lembaga Tabung Haji and Armed Forces Fund Board, asset declarations have been implemented for senior management and all staff in accordance with their internal regulations,” Dr Zaliha told the Dewan Rakyat yesterday.
Board members of companies owned by the Minister of Finance Inc (MOF Inc) are also required to declare their assets in accordance with the MOF Inc’s Board Governance Guidelines.
She said this applies to both political appointees and public officers.
Civil servants are also required to declare their assets as per the Public Officers (Conduct and Discipline) Regulations 1993.
She explained that public officers are required to declare assets upon their appointment to the public service.
Other circumstances necessitating an asset declaration include the acquisition and disposal of assets, as well as instances when the government requires such declarations.
“Asset declarations must be made at least once every five years from the date of the previous declaration.
“If, during this period, an officer does not acquire or dispose of any assets, they must still submit a declaration.
“Failure to declare assets may result in disciplinary action.
“For state government and local authority officers, asset declarations are implemented according to regulations established at their respective levels,” she added.
Dr Zaliha was responding to a question from V. Ganabatirau (PH-Klang) on the government’s plans to mandate asset declarations for all public officers as well as senior officials in government-linked companies (GLCs) and GLICs owned by the Federal Government.
Meanwhile, in response to a supplementary question by Rushdan Rusmi (PN-Padang Besar), Dr Zaliha said both fixed and non-fixed assets must be declared.
The fixed assets that have to be declared include property and vehicles.
Cash, shares, securities and investments, including digital investments such as cryptocurrency, have to also be declared.
High-value goods, such as jewellery, club membership, furniture and sports equipment that are valued at more than RM10,000, must also be declared.
She said this measure aims to prevent the concealment of assets, particularly those that may be registered under another person’s name.
