MACC Raiding FIC Office

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Raid on Felda’s subsidiary in relation to its purchase of a four-star hotel in London.

The Star

The Malaysian Anti-Corruption Commission (MACC) is currently conducting a raid on the office of the Felda Investment Corporation (FIC) in Kuala Lumpur.

Several uniformed officers from the MACC arrived at Balai Felda at 10.20am today in two separate vehicles, according to The Star.

The raid follows the discovery of fresh information obtained by the MACC which said on Jul 14 that a piece of property located in London’s prestigious Kensington area was acquired at a high price, resulting in huge losses amounting to millions of ringgit.

MACC chief commissioner Datuk Dzulkifli Ahmad had ordered a thorough investigation into the purchase of the property focusing on possible elements of corruption or abuse of power.

FIC, Felda’s investment arm, was said to have purchased the four-star hotel in London at a price “far exceeding the original price”.

The MACC said that a team to investigate the deal, which was concluded between 2013 and 2015, had been set up.

The 12th investment in Felda’s group hospitality portfolio, the hotel was acquired for £60mil (RM330mil).

It was also reported that the MACC will call several key witnesses soon to record their statements and gather information as well as solid evidence before proceeding with further action.

FIC was set up on Jul 2, 2013, and is principally involved in property development, hospitality and other strategic investments.


Earlier report: Jul 10, MACC to Open New Investigation Paper on Felda