PETALING JAYA: Periodic reviews on regulations governing civil servants are necessary to maintain integrity in the government, say anti-graft crusaders.
“The investment landscape today is significantly different from when many of these rules were first introduced, with public officers now having access to a wider range of regulated investment instruments, including unit trusts, sukuk, digital assets and other legitimate financial products,” said Transparency International Malaysia president Raymon Ram.
“It is therefore reasonable for the government to review thresholds and procedures to ensure they remain practical and proportionate.
“However, the issue is not whether public officers can own shares or invest. In a modern economy, that is both reasonable and expected.
“The more important question is whether those interests are transparently declared, effectively monitored, independently verified and properly managed when conflicts of interest arise.
“Any increase in thresholds or simplification of approval processes must be accompanied by strong safeguards to ensure that transparency, accountability and public sector integrity are not compromised.”
Raymon said the success of the reform measure will not be judged by the threshold itself, but by how effectively it is implemented and enforced.
“If the revised framework results in better disclosure, stronger verification and more effective oversight, it can strengthen governance and public confidence.
“Conversely, if oversight becomes weaker or declarations are treated merely as an administrative exercise, there is a risk that public trust could be undermined,” he added.
The government, he said, must ensure that private financial interests do not influence public decision-making and that integrity remains at the centre of public service.
Malaysian Corruption Watch (MCW) president Jais Abdul Karim viewed the revised regulation on asset declaration as a progressive step as it recognises the right of public officers to invest and lawfully accumulate wealth, while at the same time establishing limits and control mechanisms to prevent conflicts of interest and the abuse of position.
“MCW is of the opinion that the cumulative ownership limit of RM300,000 is not intended to restrict the financial freedom of public officers.
“Rather, it serves as a mechanism of checks and balances. More importantly, any ownership exceeding the prescribed limit must undergo an approval process, scrutiny of the source of income and transparent declaration requirements,” he said.
“We also view the inclusion of digital assets, such as cryptocurrencies traded through licensed platforms, as recognition of the evolving investment landscape.
“Nevertheless, this sector carries significant risks in terms of transparency, price volatility and the potential misuse of such assets for money laundering activities.
“Accordingly, close monitoring and effective oversight are essential.”
He said primary consideration should not merely be the amount of assets owned by an officer, but rather the manner in which those assets were acquired.
The civil service must uphold principles such as income derived from lawful sources; no conflict between personal interests and official duties; no misuse of insider information or official position for personal gain; and all assets and sources of income must be declared honestly and transparently.
He proposed that the Public Service Department consider several improvements, including conducting periodic audits of asset declarations submitted by high-risk officers; establishing an automated monitoring system through the integration of Human Resources Information Management System data with relevant agencies to identify discrepancies between declared income and asset ownership; and providing more comprehensive guidelines on digital asset ownership and emerging investment instruments that continue to evolve over time.
“Overall, MCW views this circular as an important initiative to strengthen the culture of integrity within the public service.
“Public officers should not be prevented from building wealth through lawful means.
“However, such wealth must be acquired transparently, ethically and in a manner that does not give rise to doubts regarding the integrity of the public service,” he said.
