KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) said it would be a hasty decision at this point to call for the abolishment of the Human Resources Development Fund (HRDF), given the recent review of the governance framework by the independent Governance Oversight Committee (GOC) covering the functions of the HRDF board of directors and management.
FMM president Datuk Soh Thian Lai said it concurred that the recent revelation of the misuse of funds for the purchase of property, which had not followed proper procedures, is indeed a serious matter involving the management of public funds and should not have been allowed to happen.
“Nevertheless, FMM is of the view that following the review and recommendation of the GOC, stricter governance measures would be put into place with stronger controls and governance structures to ensure there will be no misappropriation or misconduct involving the HRDF assets,“ Soh said in a statement.
More importantly, he added that the overhaul of the governance structure and controls that have been recommended to be implemented would provide the foundation for realignment of the past wrong doings and to position the organisation for the purpose it was set up for in meeting the human capital development and training needs of the industry.
He said Pembangunan Sumber Manusia Bhd should focus its efforts to spearhead the human capital development of the labour force in ensuring that both the existing and future workforce is prepared to meet the demand driven by the current economic and technological changes especially the changes and challenges brought about by the Fourth Industrial Revolution.