MACC proposes governance improvements for Felda, 2 subsidiaries
The commission says the recommendations are aimed at improving the implementation of an agro park project and a cattle trading pilot project.
The Malaysian Anti-Corruption Commission (MACC) has proposed governance improvements for Felda and two of its subsidiaries to strengthen management of agro park and cattle trading projects. MACC's governance investigation division (MACC BPT) made the recommendations following PM Anwar Ibrahim's July remarks about Felda's RM10 billion losses due to mismanagement and political interference.
The enhancements include restructuring FIC Integrated Property Management's role, reinforcing procurement procedures, and tightening sales and purchase controls. Felda and its subsidiaries have accepted the recommendations, committing to implementing them in stages. The agreement was formalized through a governance improvement report signed by Felda's deputy director-general, FIC Group's CEO, and MACC BPT's director.
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