The Prime Minister’s Office (PMO) said the special Cabinet committee on national governance had agreed that the new guidelines would replace a 1998 government circular.

It said the structure and composition of these boards will also be strengthened by involving the Prime Minister’s Department’s implementation and coordination unit (ICU), especially if the statutory body receives funds under the Malaysia Plan.

The PMO also said periodical reports concerning the management and governance of these organisations would be submitted to the prime minister through an online system.

“Statutory bodies are an important branch of the public sector that requires good governance. Their contributions influence economic growth and also support the implementation of strategies by central agencies and other government departments.

“The monitoring of federal statutory bodies will be implemented more effectively by strengthening the role of the ICU, finance ministry, national audit department and Project Acceleration and Coordination Unit (Pacu),” the PMO said in a statement.

It also said a new format for members of the administration and MPs to declare their assets will be tabled at the next Cabinet meeting “soon”.