New asset declaration format for MPs, officials finalised, says Kula
Published on: Thursday, March 07, 2024
By: FMT
Deputy law and institutional reform minister M Kula Segaran said every asset must now be declared thoroughly, including its original price and date of acquisition. (Bernama pic)
Kuala Lumpur: An updated format for MPs and administrative officials to declare their assets has been finalised and is set to be presented to the Cabinet for approval, the Dewan Rakyat was told.
Deputy law and institutional reform minister M Kula Segaran said the revised format was a “significant improvement” from the one established in 2018.
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Six years ago, MPs and administrative officials were only asked to declare properties owned and its monetary value.
“Now, every asset must be declared thoroughly, including its original price and date of acquisition.
“We also need to determine the current value of the asset and compare it with the original price,” he told the lower house.
Kula was responding to Syed Saddiq Syed Abdul Rahman (Muda-Muar) who wanted the government to explain its plans to implement institutional reforms.
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On Jan 6, last year, the Prime Minister’s Office (PMO) said members of the federal administration, including ministers, would declare their assets once a new format was prepared.
The PMO said the new asset declaration format would be more comprehensive and an improvement from the current system.
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The decision was reached by the special anti-corruption Cabinet committee, led by Prime Minister Anwar Ibrahim.
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