ChainCatcher, citing a report by The Edge Malaysia, said Malaysia has carried out a comprehensive revision of rules governing shareholdings and asset declarations by civil servants. Under the new rules, public officials are allowed to purchase shares in companies incorporated in Malaysia, but their holdings must not exceed 5% of the company’s paid-up capital or 300,000 ringgit in value, whichever threshold is lower.
Shareholding value cap raised
The revision keeps the shareholding ratio ceiling at 5%, while increasing the value limit from the previous 100,000 ringgit to 300,000 ringgit. This means that an official whose stake remains below 5% must still comply with the value-based ceiling. If the value of the holding exceeds 300,000 ringgit, it cannot fall under the general shareholding allowance without additional approval.
The revised rules also set out an approval route for officials who want to exceed the stated shareholding restrictions. Such officials must apply for approval from designated officials. The notice identifies the prime minister and the chief secretary to the government among those designated officials. This places holdings above the limits under a prior approval process rather than relying only on later disclosure.
Digital assets covered in the notice
The notice also sets rules related to digital assets. The available report does not disclose the detailed provisions for those digital asset rules, but their inclusion in the revised civil servant shareholding and asset declaration framework places digital assets within the scope of the regulatory update.
Before this revision, Bloomberg News reported in February that Azam, then chief commissioner of the Malaysian Anti-Corruption Commission (MACC), held 17.7 million shares in a financial services company, with a value of nearly 800,000 ringgit. That report prompted public discussion in Malaysia.