In a statement today, Rais said he had informed the finance minister of his decision to step down from the post in August.

He said he had also reiterated his desire to resign to communications and multimedia minister Annuar Musa in early September.

His resignation comes days after he came under fire from shipping associations for disparaging remarks about transport minister Wee Ka Siong on the cabotage issue.

Rais, who was appointed in June last year, described his journey in MDEC as being a “very intense and enriching one” as the agency was critical in spearheading and driving the nation’s digital economy.

During his 15-month tenure as chairman, Rais said he managed to reinvent MDEC.

This included management restructuring, improving governance and integrity with new discretionary authorisation limits and setting the strategic direction through Malaysia 5.0 (reinventing the country’s digital economy), among others.

Rais added that credible open tenders for procurement was intensified, while a transparent grant administration was implemented based on “know how” and not “know who”.

“I can say now I have some invaluable experience in reinventing a GLC (government-linked company) and the challenges it entails.”

Rais went on to say that GLC reforms must take place credibly and without political or any other forms of interference as such entities were funded by the public.

He also said that he had never compromised on his principles in performing his duties and at times was forced to make difficult decisions “unpopular as they may be”.

“It would have been much easier to just ‘follow’ instructions from the shareholder ministry and or the supervisory ministry, but that would be tantamount to a huge battle of conscience.

“I have always believed in doing the right thing anchored on the right principles. Anything less would have crossed my red-lines that I have drawn for myself.”

We are live on Telegram, subscribe here for breaking news and the latest announcements.