FGV Files Second Suit Against Isa and Emir

1842
- Advertisement - [resads_adspot id="2"]

This time around, for overpriced condo buys.

FGV Holdings Berhad has sued former chairman Tan Sri Isa Samad and former chief executive officer Datuk Mohd Emir Mavani Abdullah over the purchase of two luxury condominium units allegedly for above market price.

The company said that the units were purchased at prices significantly above market value and without proper due diligence.

It also contended the duo had unauthorised use and possession of the two condominiums.

The suit also pertains to the acquisition by the company of a number of cars and its misuse by Emir as well as the misuse of petrol benefit.

FGV Holdings is seeking RM2.9 million from Isa and Emir over the condominium units and RM1.6 million over their use and possession of the units, with the duo to be jointly and severally liable to pay for these sums.

The firm also wants Emir, who is also the former group president, to pay RM3.14 million over the purchase of the cars and RM10,837.10 over his petrol benefit.

In total, FGV is claiming almost RM7.7 million.

This is the second civil suit filed against Isa and Emir.

Last Friday, FGV filed a suit against Isa, Emir and 12 others in relation to the acquisition of Asian Plantation Ltd for RM514 million in 2014.

The company contended the purchase caused it to suffer losses.

Isa, a former Negri Sembilan mentri besar, recently quit Umno to independently contest the Port Dickson by-election that PKR president Datuk Seri Anwar Ibrahim won.


Earlier report: Nov 24, FGV Sues Ex-Chairman Isa Samad, 13 Others for RM514M Damages over Bad APL Acquisition