GLC and GLIC heads approve asset disclosure; activist demands for immediate family inclusion

PETALING JAYA: Heads of government-linked companies (GLCs) and government-linked investment companies (GLICs) say that they have nothing to hide should they be made to declare their assets to the Malaysian Anti-Corruption Commission (MACC).

Lembaga Tabung Angkatan Tentera (LTAT) chief executive officer Datuk Ahmad Nazim Abdul Rahman said that such an initiative was welcome, especially for companies which are accountable to the rakyat.

He said that asset declaration was one way to ensure that GLCs and GLICs were headed by people of integrity.

“As managers of a public fund, integrity is a key principle of our mission at LTAT. This is why I believe asset declaration is a way to enforce this.

“So, I very much welcome the announcement by the Prime Minister,” said Ahmad Nazim when contacted.

GLIC Boustead Naval Shipyard Sdn Bhd (BNS) chief executive officer Capt Azhar Jumaat said he was willing to declare his assets as he believed in being openly accountable to those who need to know.

“I’m okay with giving the declaration of my assets to the authorities. Nothing to hide,” said Azhar.

Association of Certified Fraud Examiners founder and president Datuk Seri Akhbar Satar said while it was high time that all heads of GLCs and GLICs declare their assets, their spouses and immediate family members should also be made to declare their assets as a transfer of assets can easily take place. “Malaysia is behind Indonesia, Thailand, and the Philippines on this law as these countries have long made it mandatory for heads of GLCs and GLICs to declare their assets when they are appointed to their positions.

“Should there be excuses that these declarations may be misused, those appointed to these positions should not have anything to hide, as year in and year out, we have the list of richest people in Malaysia.

“Yet nothing happens to them. There should be nothing to hide on their part if they are honest.

“GLCs and GLICs heads should report to the Finance Ministry, whereas the judges should declare to the judiciary. Declaring assets is a wise measure to open up a new perspective in Malaysia,” said Akbar, who is also a member of the Anti-corruption Advisory Board of the Malaysian Anti-Corruption Commission (MACC).

He also sits on the investigative committee for governance, procurement and government finance. On Monday, Prime Minister Datuk Seri Ismail Sabri Yaakob said heads of GLCs and GLICs, as well as members of the judiciary, must declare their assets.

He also said the mechanism for members of the administration, MPs, and senators would be strengthened to improve the credibility and integrity of the government.

“A new code of ethics will also be introduced for MPs under the Houses of Parliament (Privileges and Powers) Act 1952 (Act 347), taking into account the principle of separation of powers between the executive and the legislative bodies,” he said in a statement after chairing the Special Cabinet Committee on Anti-Corruption Series 16 No. 2 meeting on Monday.