Transparency International Malaysia (TI-M) has voiced serious concern over newly enforced restrictions that limit public access to beneficial ownership information, warning that the move threatens the country’s progress on corporate transparency and accountability.

In a statement today, TI-M president Raymon Ram said that while the Companies (Amendment) Act 2024, which took effect on April 1, 2024, was a significant step forward, the Companies (Access to Register and Information Relating to Beneficial Ownership) Regulations 2025, enforced since Jan 10, have “undermined the reform’s objectives and contradict global best practices.”