MOF finalising proposed law to strengthen governance of govt-owned companies

The Ministry of Finance plans to propose the Statutory Bodies and Controlled Entities (Financial Governance) Act to enhance governance of government-owned companies.

This Act seeks to implement stricter company establishment procedures, improve investment and loan approvals, and increase board and management accountability.

The government is also enhancing compliance with bonus and procurement regulations, and refining agency jurisdictions for better oversight and efficiency.

KUALA LUMPUR, Oct 8 — The Ministry of Finance (MOF) is finalising a proposal to enact the Statutory Bodies and Controlled Entities (Financial Governance) Act to strengthen the governance of government-owned companies.

The ministry said the proposal is expected to impose stricter procedures for the establishment of new companies, strengthen mechanisms for approving investments and loans, and increase the accountability of boards of directors and management.

“The Act aims to ensure that corporate decisions are made prudently, transparently and responsibly,” it said.

MOF said this in a written reply to a question from Azli Yusof (PH-Shah Alam) on measures taken to improve governance following audit reports on leakages of public funds.

In addition to legislative reforms, the ministry said the government is also strengthening compliance with regulations regarding bonus payments and procurement by Federal Statutory Bodies to ensure these matters take into account performance, financial capacity, and the government’s interests.

“The government will also clarify and streamline the jurisdictions for relevant agencies to reduce overlapping functions, close oversight gaps and ensure that monitoring and follow-ups are carried out in a more structured, consistent and effective manner,” it said. — Bernama

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财政部计划提出《法定机构和受控实体（财务治理）法》，以加强对国有企业的治理。

该法案旨在实施更严格的公司设立程序，改进投资和贷款审批，并提高董事会和管理层的问责制。

政府也在加强对奖金和采购规定的遵守，并完善机构管辖范围，以更好地进行监督和提高效率。

吉隆坡，10 月 8 日讯——财政部正在敲定一项提案，拟颁布《法定机构和受控实体（财务治理）法》，以加强对国有企业的治理。

该部表示，该提案预计将对新公司的设立实施更严格的程序，加强投资和贷款审批机制，并提高董事会和管理层的问责制。

“该法案旨在确保公司决策以审慎、透明和负责任的方式做出，”声明称。

财政部在书面答复阿兹利·尤索夫（沙阿南希望联盟）关于在审计报告披露公共资金流失后为改善治理而采取的措施的问题时表示了这一点。

除了立法改革外，该部表示，政府还在加强对联邦法定机构奖金支付和采购相关规定的遵守，以确保这些事项考虑到绩效、财政能力和政府利益。

声明称：“政府还将明确并简化相关机构的管辖范围，以减少职能重叠，弥补监督漏洞，并确保以更加系统、一致和有效的方式开展监测和后续工作。”——马新社

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财政部表示，2024-2025年度食用油补贴总额为38.86亿令吉，棕榈油税额为32.78亿令吉。

Kulasegaran 表示，政府在提交内阁之前正在审查与 Dapat Vista 的正式 e-Jamin 协议