Category FAQs Search : Statutory Body Strategic Management Division (SBM)
Question: What is a Federal Statutory Body?
Answer: A Federal Statutory Body has been defined by the Statutory Bodies (Accounts and Annual Reports Act) 1980 [Act 240] as: “Any body corporate, irrespective of the name by which it is known, that is incorporated pursuant to the provisions of federal law and is a public authority or an agency of the Government of Malaysia but does not include a local authority and a body corporate that is incorporated under the Companies Act 1965.” Similar to a company, a Federal Statutory Body is a separate entity that has the power to administrate, sue and being sued on its own name, sign contracts, own, buy and hold assets.
(Source: Official Portal of Ministry of Finance, 05 Feb 2025)
Source Link: https://www.mof.gov.my/portal/pdf/bahagian/sbm/faq-en.pdf