The government has agreed to amend the Trustee (Incorporation) Act 1952 (Act 258) and the Trustee Act 1949 (Act 208) to prevent the misappropriation of funds by trustees involved in religious, social, and welfare activities.
This decision was made during the Special Cabinet Committee on National Governance (JKKTN) meeting, chaired by Prime Minister Datuk Seri Anwar Ibrahim yesterday.
In a statement, the Prime Minister’s Office explained that the amendment to Act 208 includes the introduction of provisions related to beneficial ownership, specifically targeting individuals who benefit from trust bodies.
Meanwhile, the amendment to Act 258 focuses on regulations concerning information disclosure, conflicts of interest, and sources of funding. It also aims to grant greater powers for monitoring, verifying, and auditing reports as well as enhancing oversight of trustee funds.
These amendments align with the government’s ongoing efforts to enhance governance integrity and combat corruption, particularly in addressing corruption within enforcement agencies, government procurement, and public funds management. Entities receiving government funding are a key focus of these reforms.
The statement noted that such mismanagement not only leads to financial losses but also damages public trust in governance and government institutions.
In addition, the committee approved a proposal encouraging all G7 grade companies with a Government Work Procurement Certificate (SPKK) to obtain MS ISO 37001 Anti-Bribery Management System (ABMS) certification. Companies with this certification will be given priority in procurement for contracts worth RM100 million and above over the next two years.
This initiative aligns with Section 17A of the Malaysian Anti-Corruption Commission Act 2009, which emphasizes corporate liability in combating corruption.
The government reiterated its commitment to strengthening governance and integrity across the public sector in support of the national anti-corruption agenda.
“Every effort will ensure that public sector governance continues to be reinforced for the benefit of the nation and its people,” said the statement.
