Ex-FIC CEO Arrested over London Hotel Purchase

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MACC detained Zaid Abdul Jalil over its probe into FIC’s London hotel purchase.


Former Felda Investment Corp (FIC) CEO Zaid Abdul Jalil has been remanded for four days beginning today to assist in investigations into the company’s purchase of a high-end property in London’s prestigious Kensington area.

Zaid arrived at the headquarters of the Malaysian Anti-Corruption Commission (MACC) in Putrajaya at 9.30am yesterday.

FIC vehicles were seen bringing individuals, believed to be its legal advisers, to the building in the afternoon.

After almost 12 hours of questioning, Zaid was arrested at 9.20pm.

This morning, he arrived at the Putrajaya courts complex at 9.20am and was brought into Magistrate’s Court in a wheelchair.

Last week, two former key officials of valuation firm Raine & Horne were arrested in connection with the questionable purchase of the London hotel probe.

The four-star hotel, FIC’s first property purchase in London, was said to be overpaid by at least £20mil (RM110mil).

The purchase was made when Zaid was FIC chief executive and Isa Samad was Felda Global Ventures (FGV) chairman.

FIC is the investment arm of Felda.

Related reports:

Jul 30, Three Detained over FIC’s Kuching Hotel Purchase

Jul 21, Two Arrested by MACC over FIC’s London Hotel Purchase

Jul 20, More FIC-Related Arrests Possible

Jul 17, MACC Raiding FIC Office

Jul 10, MACC to Open New Investigation Paper on Felda


Jun 21, Isa Neither Denies nor Admits to Any Wrongdoing

Jun 21, It’s Isa and Wife’s Turn After 60 Witnesses Gave Statements