Penang state ExCo’s asset disclosures

Something for the BN politicians to emulate. That will be the day!

These are the asset disclosures for the Penang state ExCo members.

And for the first time, the assets of Penang state assembly members from Pakatan are being disclosed.

While these disclosures are commendable and symbolic, we need to recognise their possible limitations, which apply to any kind of asset disclosure, including those of our federal government politicians (when they do decide to disclose. that is – don’t hold your breath).

It would be better to include the assets owned by the spouse and immediate family members. Otherwise, what is to stop elected reps from putting assets corruptly acquired in the names of relatives, drivers, gardeners, etc.

Also, how to ensure that all assets and shares, whether directly or indirectly owned or through proxies, are accounted for, including offshore assets?

The scope of work carried out by the auditors should be made known. Are they verifying only the assets made known to them, or does their work extend beyond that to include investigative work? How do they determine that all the assets are accounted for?