MACC recommends governance improvements for Felda and two units to enhance project transparency

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MACC recommends Felda governance

Highlights

MACC submitted governance improvement recommendations to Felda, FIC Supplies Sdn Bhd and FIC IPM to enhance transparency in the Agro Park (Commercial) project and cattle trading.
The recommendations include restructuring FIC IPM's role as an independent advisory panel, improving procurement procedures, and strengthening FIC Supplies' internal controls.
Felda and its subsidiaries are committed to implementing the recommendations in phases, as agreed through a report signed by senior management of Felda, FIC and MACC.

This article was translated from the original. Read the original version by our correspondent here.

Governance recommendations for projects and procurement

As reported by The Edge Malaysia, citing the Malaysian Anti-Corruption Commission in a Facebook post on Monday, the recommendations were conveyed through its governance inspection and consultancy division to Felda, FIC Supplies Sdn Bhd and FIC Integrated Property Management (FIC IPM). The proposals aim to improve transparency in the implementation of the Agro Park (Commercial) project and the cattle trading pilot project.

Among the recommendations was the restructuring of FIC IPM's role as an independent advisory panel so that the views and advice provided are more objective, transparent and free from conflicts of interest. MACC also recommended that Felda establish specific standard operating procedures for procurement methods through requests for proposals and variation orders, in addition to improving FIC Supplies' transaction procedures to strengthen internal controls and transparency.

Commitment to phased implementation

Felda and its subsidiaries welcomed the recommendations and committed to implementing them in phases. The development demonstrates efforts to strengthen governance in operations related to commercial projects and subsidiary transactions.

According to MACC, agreement on the recommendations was finalised through a governance improvement report signed by Felda Deputy Director-General of Services Muhammad Fitri Othman, FIC Group Chief Executive Officer Syed Fadil Syed Sofi, and MACC Governance Inspection and Consultancy Division Director Datuk Mohazaki Hassan.

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