This article first appeared in The Edge Financial Daily on December 21, 2018

KUALA LUMPUR: The Federal Land Development Authority (Felda) says that it received a visit from the Malaysian Anti-Corruption Commission (MACC) on Tuesday following the anti-graft body’s review of Felda’s shelved fish farming project, “Project Caviartive”.

The review is part of the commission’s effort to help government agencies heighten governance and management standards, Felda said in a statement yesterday. A report of the review was also passed to Felda.

“Many of the suggestions made especially in the areas of policy, investment procedures and risk management had already been acted upon following the appointment of Felda’s new board since end of July, 2018.

“Prior to this, Felda had already established its integrity unit. Felda is thankful to MACC for its diligent findings, as all these contribute to enabling greater professionalism and higher standards of integrity within the organisation,” Felda added without providing further details.

According to news reports, the Auditor-General’s (A-G)2015 report led MACC to initiate a probe on the project. In the A-G’s report, Felda’s Felda Caviartive Sdn Bhd spent RM47.6 million on the fish farming project but the returns were not realised due to suspension of the project.