Governance reform for Felda

10 Apr 2019 / 19:46 H.

KUALA LUMPUR: The Felda White Paper which was tabled in Parliament today also listed several improvement steps to improve its governance to boost accountability, integrity and professionalism in Felda, subsidiaries and associate companies including FGV and FIC.

Minister of Economic Affairs Datuk Seri Mohamed Azmin Ali, when tabling the White Paper themed ‘Towards Sustainability of Felda’ said, Felda must implement governance reform to return the agency to its renowned position.

The following are the gist of seven governance improvement steps listed in the White Paper.

1. ensuring the appointments of Felda, FGV and FIC chairmen from among professionals and not based on political connections;

2. ensuring the governance task separation between the post of Felda chairman and the chairmen of the Felda subsidiary companies to avoid conflict of interest in the decisions by the board of directors of every company.

3. carrying out management audit to optimise the integrity, efficiency and effectiveness of human resources management;

4. setting up an Investigation Committee to take action on proposals and suggestions of the Forensic Audit Report which had been conducted;

5. taking firm action against officers and management personnel of Felda who were involved with misappropriation and negligence;

6. improving the Standard Operating Procedure (SOP) to ensure accountability in the management of Felda’s administration; and

7. studying the amendment to the act/regulation related in line with the new Felda model. Improving the Management Structure;

Meanwhile, Felda too would implement strategies to realise a tight management practice initiative, namely, right-sizing, (avoiding) duplication, realignment, outsourcing and business process re-engineering. — Bernama

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