Latest news with #TI-M
The Sun
2 days ago
- Business
- The Sun
MACC, TI-M support efforts to improve Whistleblower Protection Act
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) and Transparency International Malaysia (TI-M) have expressed full support for the government's ongoing efforts to improve the Whistleblower Protection Act. The MACC said the joint support was conveyed when the executive committee of TI-M, led by its president Raymon Ram, paid a courtesy call on MACC Chief Commissioner Tan Sri Azam Baki at the commission's headquarters in Putrajaya today. It said the enhancement of the Act is currently being undertaken by the Minister in the Prime Minister's Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, through the Legal Affairs Division of the Prime Minister's Department (BHEUU). During the meeting, Azam reaffirmed the commission's commitment to ensuring that the identities of whistleblowers and the information provided by them are kept confidential and not disclosed, once the whistleblower meets the conditions stipulated under the Whistleblower Protection Act 2010. 'Meanwhile, Raymon said TI-M had submitted proposals to BHEUU to review several sections of the Act that contradict other laws, which could result in the loss of protection for whistleblowers,' it said in a statement. Both parties also discussed mutual concerns, including political funding, the strengthening of the Integrity Pact in Malaysia, the implementation of the Anti-Bribery Management System (ABMS) MS ISO 37001 accreditation, and beneficial ownership declaration. 'All tenderers and companies participating in government procurement, based on the guidelines of the Companies Commission of Malaysia, are seen as capable of preventing corruption and fraud in procurement processes involving government suppliers,' the statement said.
The Sun
2 days ago
- Business
- The Sun
MACC, TI-M back improvements to whistleblower law
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) and Transparency International Malaysia (TI-M) have expressed full support for the government's ongoing efforts to improve the Whistleblower Protection Act. The MACC said the joint support was conveyed when the executive committee of TI-M, led by its president Raymon Ram, paid a courtesy call on MACC Chief Commissioner Tan Sri Azam Baki at the commission's headquarters in Putrajaya today. It said the enhancement of the Act is currently being undertaken by the Minister in the Prime Minister's Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, through the Legal Affairs Division of the Prime Minister's Department (BHEUU). During the meeting, Azam reaffirmed the commission's commitment to ensuring that the identities of whistleblowers and the information provided by them are kept confidential and not disclosed, once the whistleblower meets the conditions stipulated under the Whistleblower Protection Act 2010. 'Meanwhile, Raymon said TI-M had submitted proposals to BHEUU to review several sections of the Act that contradict other laws, which could result in the loss of protection for whistleblowers,' it said in a statement. Both parties also discussed mutual concerns, including political funding, the strengthening of the Integrity Pact in Malaysia, the implementation of the Anti-Bribery Management System (ABMS) MS ISO 37001 accreditation, and beneficial ownership declaration. 'All tenderers and companies participating in government procurement, based on the guidelines of the Companies Commission of Malaysia, are seen as capable of preventing corruption and fraud in procurement processes involving government suppliers,' the statement said.
Malaysiakini
23-05-2025
- Business
- Malaysiakini
M'sia should improve public access to beneficial ownership data
LETTER | I refer to the letter by the Companies Commission of Malaysia (CCM) titled 'CCM's response to TI-M on beneficial ownership information' published on May 22, 2025. In a world where freedom of information, which promotes values like accountability and transparency, is the antidote to corruption, Malaysia risks falling behind. While global financial watchdogs continue to push for reasonable openness in corporate ownership, I humbly opine that Malaysia's latest regulations on access to beneficial ownership (BO) information tend to leave the public in the dark. In Malaysia, under the Companies (Access to the Register and Information Relating to Beneficial Ownership) Regulations 2025, access to BO data is primarily restricted to enforcement agencies and reporting institutions. Even beneficial owners can only view their own records. The general public? Completely shut out. Meanwhile, it is understood that public scrutiny under certain circumstances is of paramount importance. In the context of public procurement, for instance, if there is no public access, journalists and civil society cannot investigate whether a company that wins a lucrative government tender is secretly owned by any relatives of a politician or a government official. Malaysia's current regulations provide no meaningful avenue for the public to monitor potential conflicts of interest in government contracts, despite international best practices recommending the disclosure of beneficial ownership in procurement awards. In such a context, access to beneficial ownership information can support anti-corruption efforts and limit opportunities for abuse in awarding public procurement or extractive contracts. Therefore, by referring to the guidelines titled 'Unmasking Control: A Guide to Beneficial Ownership Transparency' published by the International Monetary Fund (IMF) in 2022, Malaysia can still address the aforementioned shortcomings with the following proposed reforms. First, a tiered access system should be introduced. I believe the public in general should be able to access the basic information of the beneficial owners of any companies, such as names and countries of residence, whereas financial institutions and authorities can access more comprehensive records when needed. This approach strikes a delicate balance between privacy concerns and the need for transparency and good governance. Second, when we come to ownership in public procurement, the relevant information should be disclosed to the public, who, as the taxpayers, have the right to know. When public funds are spent, the public has the right to know who benefits behind the scenes. Hence, the BO information of the awarded companies in public procurement should be reasonably made available to the public to allow civil society to better monitor and scrutinise the awarding of procurement contracts. Undeniably, global trends are still in the midst of evaluating the appropriate extent of public access to BO data. However, I still believe that transparency with reasonable or necessary safeguards should always be the norm. To build public trust, combat corruption, and attract clean investment, Malaysia must go further. We should proportionately let sunlight in and move away from unnecessary secrecy. The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini.
