Malaysia to table State-Owned Enterprises Bill this year for tighter oversight
Prime Minister Anwar Ibrahim announced that the State-Owned Enterprises Bill will be presented to Parliament this year to impose stricter rules on government bodies and agencies.
Malaysia is completing a State-Owned Enterprises Bill aimed at strengthening oversight, governance and financial controls over government bodies, agencies and Bumiputera-related entities. Prime Minister Datuk Seri Anwar Ibrahim told the Dewan Rakyat that the bill will be tabled and, if possible, passed within one outlet year. He highlighted that stricter rules are essential to prevent irregularities that could lead to losses amounting to billions of ringgit.
The comments came during Ministers’ Question Time after a supplementary query from Datuk Seri Dr Zaliha Mustafa regarding steps the Finance Ministry is taking to tighten procedures for large-scale investments by government-linked companies (GLCs) and government-linked investment companies (GLICs). Anwar indicated the legislation will reinforce financial discipline across all government-linked organisations, aiming to improve transparency and safeguard public funds.
Why it matters
Stricter oversight of state-owned entities aims to prevent billions of ringgit in losses and improve public-fund management.
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