MCMC says will cooperate with MACC on fund management probe

KUALA LUMPUR (July 18): The Malaysian Communications and Multimedia Commission (MCMC) said today it will cooperate with the Malaysian Anti-Corruption Commission (MACC) throughout the MACC’s investigation on the MCMC’s alleged fund mismanagement, which was highlighted by the Auditor-General’s Report 2018 (series one).

The MCMC said in a statement today the report revealed that under the previous minister’s helm, the approval for projects was not implemented transparently as the funds were released without a clear basis. The MCMC said this had breached the requirements under the MCMC Act 1998.

“The MCMC takes serious note of the findings and recommendations raised in the latest edition of Auditor-General’s Report 2018 (series one) that has highlighted mismanagement of the MCMC Fund.

“MCMC would like to reiterate that it will not tolerate any misconduct by any of its officers. MCMC believes in the effective investigation by the MACC and will fully cooperate with the MACC throughout their investigation process. As a regulator responsible for the communications and multimedia industry in Malaysia, MCMC adheres to its integrity values and is confident in improving performance to successfully develop a world-class communications and multimedia industry,” the MCMC said.

According to the MCMC, the statutory body, under Communications and Multimedia Minister Gobind Singh Deo’s helm, has implemented various initiatives since May last year to reform and improve existing procedures and enhance governance.

The MCMC said it had stopped all corporate social responsibility programmes for the minister and the existing fund allocation has been transferred to the MCMC’s operating expenses.

The MCMC said it also updated existing guidelines on financial authority limit to ensure that every approval involving the MCMC’s finances are approved by those who are authorised and mandated to do so.

According to the MCMC, initiatives to reform and improve existing procedures and enhance governance include “dissolution of subcommittees previously entrusted to approve matters closely related to the usage of the MCMC Fund, whereby those items (subject to the updated financial authority limit) would be extended to commission members for assessment and approval.”

“Standard operating procedures for any approval are enhanced whereby each project, rising matters and every item that needs approval from the management are presented, discussed and/or approved in the MCMC’s management committee meeting before it is presented to commission members,” the MCMC said.

Source: TheEdgeMarkets