KUALA LUMPUR, 28 May 2026 (The Capital Post) — Former Malaysia Debt Ventures (MDV) non-executive chairman Wong Chen has claimed that his tenure at the government financial institution will end on 31 May 2026 following instructions from the Ministry of Finance (MoF).
In a statement shared on social media, Wong Chen said he was informed by MDV management before chairing what would be his final board meeting that the ministry had issued a letter dated 25 May 2026 directing the immediate end of his chairmanship effective at the end of the month.
He alleged that the ministry neither contacted him directly nor provided an explanation regarding the decision.
Wong Chen said he initially accepted the position in May 2023 after being instructed by Prime Minister Anwar Ibrahim to help restore governance at the institution, despite previously taking a political stance that Members of Parliament should not hold positions in government-linked companies (GLCs).
According to him, MDV was facing financial difficulties at the time, recording losses of RM18.6 million in 2022 which widened to RM56.6 million in 2023.
He stated that one of his first actions as chairman was to eliminate political interference and strengthen governance structures within the organisation.
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Wong Chen claimed that MDV returned to profitability in 2024 with a profit of RM3.4 million and further improved its financial performance in 2025, alongside implementing stricter governance and integrity measures.
He also highlighted the launch of MDV’s Integrity Day initiative in March 2026 aimed at reinforcing anti-corruption policies, internal compliance and transparency.
Despite the abrupt end to his tenure, Wong Chen expressed appreciation to MDV staff and described his three-year stint as a meaningful experience that demonstrated how strong governance structures could help revive government-linked institutions.
The information was shared via Wong Chen’s official Facebook page. – The Capital Post
