KUALA LUMPUR (Nov 1): The Ministry of Communications and Multimedia will unveil a new board for the National Film Development Corporation of Malaysia (Finas) next week, comprising individuals with the right experience and knowledge.

“I also intend to appoint an accountant from a certified company to review and report to the Ministry, with the approval of the new board,” said the Minister, Gobind Singh Deo.

A new financial structure is necessary to improve the financial system and accountability of Finas so that there will be no further leakages, losses, and integrity and accountability issues in future, he told reporters at the Parliament lobby today.

Gobind revealed that Finas’ 2016 financial report, which was tabled in the Dewan Rakyat today, did not reflect or give a transparent view of its true financial standing, based on the Auditor-General’s report.

“I view the Auditor-General's report very seriously. The report that Finas' financial statements do not provide a true and fair view is a very serious matter and completely damages the integrity of the financial system in Finas,” he said.

Gobind noted that a report has been lodged with the Malaysian Anti-Corruption Commission (MACC) and the case is currently under investigation.

“I hope that they (MACC) can speed up with the investigation as it involves an estimated RM35 million.

“I hope that the new board can improve Finas’ performance so that we can succeed in this industry not only in Malaysia but on the world stage in the future,” he added.