KUALA LUMPUR: Malaysia My Second Home (MM2H) programme participants are not a security threat to the nation, says the Public Accounts Committee (PAC).

       "The committee took note that there exists no security threat from participants under the MM2H programme since it was implemented in 2002 as verified by the Immigration Department," PAC chairman Wong Kah Wor said in a statement Thursday (Dec 16).

       This was among the findings of the bi-partisan parliamentary committee following an inquiry into the MM2H programme which was raised in the Auditor-General's Report 2019, tabled in Parliament on Sept 28 this year.

       The MM2H programme was suspended pending review in 2019, but was reactivated in October this year.

       However, there was a hue and cry from several quarters over the new conditions imposed under the revived programme.

       Under the new requirements, MM2H applicants must have a minimum of RM1mil in Malaysian fixed deposits (FD), an increase from RM150,000 for applicants above 50 years old, and RM300,000 for those 50 years old and below.

       Applicants must also have an offshore income of at least RM40,000 a month, compared with RM10,000 previously.

       Wong noted that no engagement with stakeholders was held prior to the announcement of the new conditions.

       However, he said the PAC took note that existing participants under the programme were not bound by the new conditions and merely had to pay a fee pass of RM500 per year.

       Meanwhile, Wong added that the PAC also found that poor data and record keeping resulted in a lack of accurate numbers of participants under the programme.

       "The number of MM2H applications for extension after the 10 year expiry period could not be verified.

       "The Immigration Department could not produce a report to differentiate between new applications and applications for extensions under the programme.

       "Steps to carry out improvements have yet to be made," he said.

       He also noted that records to identify the ownership of property by participants under the programme were incomplete.

       "The data of property ownership is only recorded if the properties were purchased using participants' fixed deposits, which is part of the condition under the programme," he added.

       Among the recommendations by the PAC, Wong said, was that the new MM2H policy should be more client friendly and competitive compared to similar programmes offered by neighbouring countries.

       He said the MM2H programme should be more flexible in catering to the needs of the targeted groups.

       He added that the Tourism, Arts and Culture Ministry should be given more prominence in promoting the programme.

       He also said that there should be better coordination between the agencies involved with the programme.