In the late 90s, he was appointed a member of the National Economic Consultative Council 2 (NECC 2) by the then Prime Minister, where he was involved in Human Resource Development.
In September 1999, he was appointed to the Capital Market Strategic Committee by the then Finance Minister and in August 2001 was appointed as a member of the Corporate Debt Restructuring Committee (CDRC) of Bank Negara.
He was elected Executive Committee Member of the Federation of Public Listed Companies Berhad (FPLC) in August 1994 and was elected as its President in October 1997. He represented this organization to the High Level Finance Committee of the Ministry of Finance until 2000.
Tan Sri Megat was a member of Bank Negara Malaysia’s Financial Directors’ Education Steering Committee (FIDE). He was also one of the first members of Malaysian Anti/Corruption Commission (MACC) when it was established to replace Anti-Corruption Agency (ACA) !! He also served as a Non-Executive Independent Director of PETRONAS from April 2010 until April 2017. In January 2018, he retired as Chairman of Omesti Berhad (former Formis Resources Berhad) and Tradewinds Corporations Berhad. In June 2018, he retired as Chairman of MajuPerak Holdings Berhad.
Presently he is the Honorary Patron of Malaysian Institute of Corporate Governance (MICG), of which he was its first President and founder from April 1998 till 2015. He is a member of the Transparency International Malaysia (TIM). Tan Sri is the Chairman of the Malaysian Institute of Management (MIM); Ulink Ascot Sdn Bhd in Kota Kinabalu and Chairman of the Board of Kuber Venture Berhad. In February 2021, Tan Sri Megat was appointed as Advisor of Dialog Corporate Sdn Bhd while in March 2021, he was appointed as Chairman of MYSJ Sdn Bhd (MySejahtera), He was appointed as Chairman of Farm Fresh Berhad on 25 September 2021.
Currently, Tan Sri Megat is the Chairman of Asian Pac Holdings Berhad and SEG International Bhd. On July 01, 2020 Tan Sri Megat was appointed as Chairman of Sime Darby Plantation Berhad.
He is current President of Persatuan Darul Ridzuan in Wilayah Persekutuan and Selangor (a welfare organization). He has been President of Kelab Golf Negara Subang for 6 years. He is the Advisor and Trustee of Tan Sri Muhyiddin Charity Golf; he is also a Trustee of MyKasih (Charity) Foundation and the Vijayaratnam Foundation. Tan Sri Megat is a Council Member of Quest International University in Perak.
Sportswise, during his days in University of Singapore, Tan Sri Megat was its Rugby Captain for 2 years. He also played for the Singapore state team. In the 70s, he played for COBRA Club, Selangor state and the Malaysian team. Tan Sri Megat was President of the Combined Old Boys’ Rugby Association (COBRA) for 5 years. He also served as President of Selangor Rugby Union for 4 years. Additionally, he was a onetime Deputy President of Malaysian Rugby Union (MRU). He retired from playing rugby in 1976. A passionate sailor in the 80s, his sailing team won the first King of Thailand Cup in the Royal Phuket Regatta 1987 on “Impy”.