[WATCH] PSM to appoint independent auditors, tighten governance after former CEO’s corruption case

KUALA LUMPUR – The Perbadanan Stadium Malaysia (PSM) will appoint independent external auditors and strengthen its internal audit and legal divisions as part of a wider governance overhaul following a corruption case involving its former chief executive officer.

PSM chairman Dr Helmy Haja Mydin said the organisation had fully cooperated with investigating authorities and remained committed to transparency as scrutiny into its operations continues.

“We have given full cooperation to the relevant investigative agencies from the very beginning,” he said during an appearance on Scoop’s Sport Check podcast.

“Our position has always been clear — we have opened our doors, provided access to information, and will continue to support the process in every way required. There is no attempt on our part to withhold or obscure anything.”

Dr Helmy said independent oversight was crucial to ensuring accountability and rebuilding confidence in the organisation.

“When matters of this nature arise, it is critical that independent bodies are able to come in and assess the situation objectively,” he said.

“That external oversight is important not just for accountability, but also for rebuilding trust in the institution.”

The move comes as PSM’s former chief executive officer faces seven charges of bribery allegedly linked to a squash centre development project under the organisation’s purview.

The charges are understood to involve procurement and contract-related decisions connected to the project, raising wider concerns over governance and tender management within the stadium body.

The former CEO has claimed trial to all charges, with court proceedings ongoing.

Dr Helmy said PSM had already begun strengthening its governance framework, including improving its internal audit capabilities and bringing in external expertise.

“We have already begun taking steps internally to reinforce our systems,” he said.

“This includes strengthening our internal audit function and looking at bringing in external audit expertise to ensure that our processes are robust, transparent, and aligned with best practices.”

He added that PSM’s legal division would also be enhanced to better support compliance, regulatory matters and contract management.

“At the same time, we are also looking at strengthening our legal team,” he said.

“This is to ensure that as an organisation managing significant public assets, we are fully equipped to deal with regulatory, contractual and governance matters in a much more structured and professional manner.”

Responding to claims that his appointment as chairman was linked to an effort to “clean house” ahead of the CEO’s arrest, Dr Helmy rejected the suggestion.

“I think that perception is not accurate,” he said.

“My appointment was not about any individual or any specific case. It was part of a broader mandate to strengthen governance, improve operational efficiency, and prepare the organisation for major upcoming events such as the SEA Games.”

He said he was unaware of any impending enforcement action when he assumed the role.

“On the day I started, I was certainly not aware of what was going to happen in the following days,” he said.

“Those decisions and investigations are handled by the relevant authorities, and they operate independently. My focus has always been on stabilising the organisation and moving it forward.” - June 29, 2026

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