KLVC project: Felda sets up investigation committee

KUALA LUMPUR: Felda will be setting up an investigation committee to conduct a legal review of those who were negligent in safeguarding its interests and of its investment wing, Felda Investment Corporation Sdn Bhd (FICSB), Felda and SPSB.

Felda chairman Tan Sri Shahrir Samad said an independent legal firm will also be appointed to assist the committee which will be headed by Felda board member Datuk Dr Ahmad Kushairi Din.

"The committee will be given three months to complete their investigation after which the final report will be tabled to the Felda board for the next course of action.

"It is only after we go through the final report that we will determine what type of punitive or legal action will be taken against the negligent individuals," Shahrir told reporters yesterday after chairing a special meeting discussing the recommendations made by the forensic audit team over the Kuala Lumpur Vertical City (KLVC) project.