Dewan Rakyat News In Brief: March 4

SSM IDENTIFIES FIVE COMPANY SECRETARIES YET TO SUBMIT BENEFICIAL OWNERSHIP INFORMATION

KUALA LUMPUR -- The Companies Commission of Malaysia (SSM) has identified five company secretaries overseeing the highest number of firms that have yet to submit beneficial ownership information via the Electronic Beneficial Ownership System (e-BOS).

Deputy Minister of Domestic Trade and Cost of Living Fuziah Salleh said that as of Dec 31, 2024, a total of 602,105 out of 691,690 active companies registered with SSM had complied with the requirement to submit beneficial ownership information, reflecting a compliance rate of 87.05 per cent.

“Measures taken by SSM to ensure compliance include conducting outreach programmes, awareness campaigns and issuing compounds or notices to companies that fail to submit their information via e-BOS,” she said during the question-and-answer session in the Dewan Rakyat today.

She was responding to a supplementary question from Datuk Dr Suhaili Abdul Rahman (PN-Labuan) regarding last year’s compliance rate and the actions taken or planned by SSM against non-compliant companies.

-- BERNAMA

FINANCIAL FRAUD: BNM ENHANCES POLICY, EMPHASISES SHARED RESPONSIBILITY PRINCIPLE

KUALA LUMPUR -- Bank Negara Malaysia (BNM) has strengthened its existing policy by emphasising the principle of shared responsibility in cases of fraud and fund loss in accounts where weaknesses from both banks and customers are evident.

Deputy Finance Minister Lim Hui Ying said this generally applies to cases arising from banks’ failure to block suspicious transactions and customer negligence, ensuring that the burden of losses is not solely borne by the victims.

“Victims have the right to fair compensation. Any investigation outcome that does not favour the customer is subject to an independent review to ensure an objective assessment,” she said.

She was responding to a question from Datuk Seri Mohmed Puzi Sh Ali (BN-Pekan) on the government’s efforts to protect the rights and interests of the people in cases of fund losses due to weak banking security.

-- BERNAMA

KDN COMMITTED TO ELEVATING MALAYSIA TO TIER 1 IN US STATE DEPT REPORT

KUALA LUMPUR -- The Home Ministry (KDN) is committed to elevating Malaysia to Tier 1 in the US State Department’s Trafficking in Persons Report, said Minister Datuk Seri Saifuddin Nasution Ismail.

He said Malaysia was upgraded to Tier 2 last year after being at Tier 3 in 2023, demonstrating the government’s seriousness in combating human trafficking.

“We have improved. Since we are now at Tier 2, we must strive for Tier 1. The report will be released in April, and we have just over a month to continue our efforts before our ranking is determined,” he said during the question-and-answer session in the Dewan Rakyat today.

He was responding to a supplementary question from Dr Abd Ghani Ahmad (PN-Jerlun) on the ministry’s drastic measures and challenges in tackling migrant smuggling and human trafficking, particularly involving government officials.

-- BERNAMA

17,208 INTERNATIONAL STUDENTS FROM 74 COUNTRIES JOIN MOBILITY PROGRAMME AT IPT

KUALA LUMPUR -- A total of 17,208 students from 74 countries have participated in the Mobility Programme at higher learning institutions (IPT), while 10,448 Malaysian students have joined similar programmes in 55 countries as of Dec 31, 2024.

Deputy Higher Education Minister Datuk Mustapha Sakmud said the mobility programme covers student exchange, academic visits, cultural exchange, campus transfers, clinical attachments, industrial training, and summer or winter courses.

“Through student exchange programmes, Malaysian students have the opportunity to study at overseas IPT for a certain period, such as one semester in Japan, Thailand, Indonesia, Vietnam and China,” he said during the question-and-answer session in the Dewan Rakyat today.

He was responding to a question from Datuk Seri Saifuddin Abdullah (PN-Indera Mahkota) on the extent of the student exchange programme and the duration Malaysian students spend at foreign universities and vice versa.

-- BERNAMA