SPRM advises Felda and subsidiaries to overhaul governance and procurement practices

In a Facebook post, the Malaysian Anti-Corruption Commission (SPRM) disclosed that its Governance Investigation Unit has put forward a set of reforms for Felda and its affiliates, FIC Supplies Sdn Bhd and FIC Integrated Property Management (FIC IPM). Key proposals include redefining FIC IPM’s function as a truly independent advisory panel to enhance objectivity and eliminate any perceived conflicts of interest. SPRM also recommends that Felda establish a specific standard operating procedure for procurement through Requests for Proposals and revise the sales transaction procedures of FIC Supplies to strengthen internal controls and increase transparency.

Felda and the companies have expressed approval of the recommendations and committed to rolling them out in stages. The endorsement was formalised in a Governance Improvement Report signed by Deputy Director-General of Service Felda Muhammad Fitri Othman, FIC Group CEO Syed Fadil Syed Sofi, and SPRM BPT Director Mohazaki Hassan.