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PUTRAJAYA: The “sleeping partners” will now have to “wake up” as the implementation of the law on corporate responsibility will hold them accountable as well, in case the company is involved in corrupt practices.
The head of the Malaysian Anti-Corruption Commission (MACC) legal and prosecution division, Roslan Mat Noor, said that with the new law in place, non-active business partners would have to take some responsibility.
“I think this should be viewed in a positive light. So now, there will be no more dormant partners because everyone will have to take responsibility for the actions of their companies,” he said at the Second Anti-Corruption Forum on Thursday (September 3).
Roslan said the corporate responsibility law will also make people, including politicians, more conscientious when accepting positions in government-linked companies.
“This is because they can no longer just sit on the board of a company and get an assignment.
“Now, if an employee of the company commits a crime, he will also be implicated.
“Once again, this law must be viewed positively. The space and opportunity for corruption can be minimized,” he said.
The application of a new provision of the MACC Law regarding corruption crimes involving corporate organizations came into effect on June 1.
The provision of Section 17 (A) of the Act is intended to encourage business activities to be conducted with integrity and to promote good governance practices in these organizations.
Meanwhile, the head of MACC’s inspection and consulting division, Zakiah Hassan, said it was important for companies to have corporate governance guidelines in order to establish a defense in the event of a case.
“They must demonstrate that they have carried out an adequate procedure to avoid corruption in the company.
“On the MACC side, we inform corporations about this, but we want to encourage non-governmental organizations and business partnerships to advocate and educate on the importance of having corporate governance guidelines,” Zakiah said.
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