MACC nabs 2 over Felda’s London hotel purchase

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PETALING JAYA: Two individuals believed to be involved in Felda Investment Corporation’s (FIC) purchase of a four-star hotel in London were arrested by the Malaysian Anti-Corruption Commission (MACC) today.

The anti-graft agency said the suspects, a 45-year old director of an asset management company and a 36-year old property unit head of another firm, were nabbed at 1pm after presenting themselves at the MACC office to have their statements recorded.

In confirming the arrests, MACC deputy chief commissioner (operations) Azam Baki said he believed the duo would be able to furnish the agency with more information regarding the transaction.

“The two will be brought to the court in Putrajaya tomorrow for remand,” he said in a brief statement.

Azam added that during the hotel’s purchase the two suspects held positions as corporate advisory head and director of Raine and Horne which was appointed by the FIC to manage the procurement of the hotel.

The MACC opened an investigation paper on the FIC’s purchase of a hotel in Kensington, London, between 2013 and 2015, allegedly at a much higher price than the original, causing the Felda subsidiary to suffer millions of ringgit in losses.

The FIC reportedly acquired the four-star hotel for £60 million (RM330 million) on Dec 16, 2014.

Yesterday, MACC chief commissioner Dzulkifli Ahmad said the agency would make several more arrests soon.

He however refused to disclose the number of people who would be arrested or the positions they held.

http://www.freemalaysiatoday.com/category/nation/2017/07/18/purchase-of-rm330-million-hotel-macc-questions-4-senior-fic-officers/

http://www.freemalaysiatoday.com/category/nation/2017/07/20/fic-hotel-purchase-arrests-will-be-made-soon-says-macc/

http://www.freemalaysiatoday.com/category/nation/2017/07/18/macc-has-witness-list-for-probe-into-fics-london-hotel-deal/