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MACC arrests Isa Samad over FIC hotel deals

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The former FGV chairman was arrested over FIC’s purchase of two hotels between 2014 and 2015, one in London and another in Sarawak.

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PETALING JAYA:
Former Felda Global Ventures (FGV) chairman Isa Samad has been arrested by anti-graft authorities in connection with two hotels purchased by Felda subsidiary Felda Investment Corporation (FIC).

A source confirmed this just hours after Isa was detained at the Malaysian Anti-Corruption Commission (MACC) headquarters in Putrajaya this afternoon.

The source said Isa had been detained over FIC’s purchase of two hotels between 2014 and 2015, one in London and another in Sarawak.

MACC deputy commissioner (operations) Azam Baki confirmed the arrest, adding that it was a follow-up to earlier statements recorded over the purchase.

Isa, who had arrived at the commission’s headquarters at 2.40pm today, quit his role as FGV chairman in June after meeting with Prime Minister Najib Razak. He was later appointed acting chairman of the Land Public Transport Commission (SPAD).

FGV came under investigation following allegations made by the plantation giant’s president and chief executive officer Zakaria Arshad on June 6. He had urged MACC to probe deals made by the company, especially those involving FGV’s procurement department.

There were also allegations of misconduct and abuse of power made against the FGV leadership.

Zakaria met with MACC on June 7 and the next day, the agency raided FGV offices in Menara Felda in Kuala Lumpur, carting off files of documents to facilitate its investigations.

On June 21, Isa and his wife Bibi Sharliza Mohd Khalid gave their statements to MACC although no details were forthcoming on why they had been called in.

The London hotel referred to is likely the four-star Grand Plaza Kensington Hotel which FIC acquired on Dec 16, 2014.

Preliminary investigations by MACC revealed that FIC was believed to have bought the hotel at a much higher price than the market price, resulting in FIC allegedly losing millions of ringgit.

The hotel has 62 rooms and is located at Lexham Gardens within the exclusive district of Kensington and Chelsea.

The four-star hotel in Kuching is also believed to have been bought at a price much higher than the original value.

A source said MACC’s investigation of the Sarawak hotel purchase was a follow-up on the investigation into the London hotel deal.

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