FENAKA's Managing Director Muaz Mohamed Rasheed has said that 25 issues have been submitted to Anti-Corruption Commission (ACC) after investigating 60 projects taken on by the company.

Speaking at the State Owned Enterprises Committee (SOE Committee) at the Parliament regarding the power outage issue in Fuvahmulah and the unlawful termination and hiring of staff at FENAKA, Muaz said that the 60 projects investigated had not even received Board approval. As such, the projects have been halted, Muaz said.

Muaz said that the 25 cases submitted to ACC did not even have an estimation of costs done before they begun. As such, the project costs were twice as high due to equipment and resources being allocated at a 50 percent higher price than market value.

Additionally, since the projects did not have an established completion date or the resources and employees needed to complete the projects, FENAKA has been incurring additional costs of giving salaries to the project workers.

Muaz said the cases were submitted to ACC with enough evidence to determine the responsible parties. He added that while there were various people including the former MD of FENAKA, Ahmed Saeed Mohamed, involved in the cases.