PUTRAJAYA: The Cabinet has decided to leave the issue of shareholding in private companies among civil servants to the discretion of the Chief Secretary to the Government Tan Sri Shamsul Azri Abu.
Communications Minister Datuk Fahmi Fadzil, who is also government spokesman, said this Wednesday (April 15) during his weekly post-Cabinet briefing to the media.
He said that Shamsul will present to the Cabinet on the issue of civil servants holding shares in private companies and failing to declare them.
The Communications Minister was responding to a question on the government's stance should civil servants fail to declare shares they hold.
“This matter has been briefly discussed, taking into account the process involving the Chief Secretary to the Government. As I have mentioned previously, the Cabinet decided to leave it to the Chief Secretary to the Government to review and take action based on the report's findings.
"I am unable to disclose the findings of the report at this time because the process is still ongoing. Any action to be taken will be determined through a process involving the Chief Secretary. As for when we might receive more information, the Chief Secretary will report to the Cabinet, but not today (April 15)," said Fahmi.
Under a 2024 government circular, public servants are allowed to purchase shares in a public company up to a limit of 5% of its paid-up capital or RM100,000, whichever is lower. Public servants must also declare their assets whenever they buy or sell shares in public companies.
In recent months, the issue surrounding Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki’s share ownership has drawn public attention, with calls for transparency and accountability in handling the matter.
