World · Malaysia Bureau
Anti-corruption agency urges Felda to strengthen governance standards
Malaysia's anti-corruption watchdog has recommended that the Federal Land Development Authority implement stricter oversight procedures across its operations and subsidiaries to enhance transparency and accountability.
LSN Malaysia ·
The Malaysian Anti-Corruption Commission (SPRM) has put forward a series of recommendations aimed at bolstering corporate governance at Felda and its subsidiary companies, according to officials familiar with the matter.
Among the key proposals is the establishment of specialized standard operating procedures specifically designed to regulate procurement methods and acquisition processes. The recommendations also call for improvements to transaction management and oversight mechanisms across buying and selling operations.
The suggestions come as part of ongoing efforts to strengthen institutional controls within the federal statutory body, which manages vast agricultural landholdings and employs tens of thousands of workers nationwide.
Implementation of these governance enhancements is expected to reduce operational risks and improve financial accountability throughout Felda's extensive network of subsidiaries and affiliated entities.
The authority has indicated its willingness to review and consider the anti-corruption agency's recommendations as part of its broader modernization agenda.