Business, markets and economy news from Malaysia.
Leading academics have urged the government to release the Tabung Haji RCI report without delay, citing the need to restore depositor confidence, establish governance accountability, and address lingering questions about the troubled Islamic pilgrimage savings institution.
Tabung Haji is systematically implementing Royal Commission of Inquiry recommendations, with 75% of 25 proposed reforms already underway, as the government declassifies the report to boost transparency.
Malaysia's Cabinet has approved extending the review period of the Tabung Haji Royal Commission of Inquiry report from 2014 to 2022 to assess recovery measures under new management. The report will be declassified and debated in Parliament.
Malaysia's Cabinet has declassified the Royal Commission of Inquiry report on Tabung Haji and plans a special Dewan Rakyat sitting for MPs to scrutinise its findings. The government hopes to schedule the debate before October's regular session.
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Malaysia's Tabung Haji scandal reveals how religious institutions remain vulnerable to mismanagement without robust governance frameworks. Experts emphasise that accountability and transparency transcend communal lines and affect the entire nation.
Communications Minister Datuk Seri Fahmi Fadzil has urged the government to release the Royal Commission of Inquiry report on Tabung Haji publicly, citing transparency and fairness principles. Prime Minister Anwar Ibrahim indicated the report would be made available within days.
Opposition figures are demanding Transport Minister Anthony Loke justify the RM178mil Vehicle Entry Permit contract awarded to a company connected to Nasir Baki, brother of former MACC Chief Commissioner Tan Sri Azam Baki, citing transparency concerns.
Malaysia's Small and Medium Enterprises Association is demanding public reporting of loan approvals and a whistleblower mechanism to curtail political interference in MSME financing, warning that patronage-based lending undermines entrepreneurial merit.
King Charles III has broken with centuries of royal tradition by becoming the first reigning British monarch to publicly disclose his personal tax payments, revealing £12.9 million paid in the 2024-2025 tax year as part of efforts to enhance transparency.
Malaysia's government is moving to expand Parliament's role in vetting public prosecutor candidates, allowing legislators to debate, vote, and publicly assess nominees from the Judicial and Legal Service Commission for the first time.
The Malaysian Anti-Corruption Commission has mandated all personnel to revise their asset declarations within a month, reinforcing internal accountability standards across the agency tasked with combating graft nationwide.
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Malaysia's anti-corruption watchdog has begun investigating the controversial relocation of three elephants from Taiping Zoo to Osaka, following allegations that government payments were diverted and corruption may have occurred.
King Charles III will publicly disclose his personal tax bill, Buckingham Palace announced, amid growing calls for transparency regarding royal financial arrangements and spending.