MACC investigating another FIC hotel purchase

PUTRAJAYA: The acquisition of another hotel by the Felda Investment Corporation (FIC) in Kuching has come under the radar of the Malaysian Anti-Corruption Commission (MACC).
Sources revealed that investigations have begun into the four-star hotel that is believed to have been purchased at a price that ballooned way above its value.
MACC investigators uncovered this during the course of a probe into a four-star hotel FIC had purchased in Kensington, London between 2013 and 2015.
It is learnt that the acquisition of the hotels had caused hundreds of millions of ringgit in losses for FIC.
"The investigations team is gathering more evidence and are soon expected to visit FIC branches at several locations to obtain documents and information on the purchase of the Kuching hotel." said a source.
MACC director of investigations Datuk Simi Abdul Ghani who confirmed the probe is underway said a thorough investigation will be done to determine if there are elements of corruption and power abuse in the purchase of the hotel.
The MACC started a probe on the FIC about two weeks ago on discovering that the London hotel it acquired for RM334 million was overpaid by 35%.
Days later, the FIC office in Balai Felda, Kuala Lumpur was raided and investigators seized stacks of documents.
On Saturday, the MACC detained a 45-year-old management and consultancy company director and a 36-year-old official of a postal services company when they were called in for questioning.
The officials were senior staff of a company appointed by FIC and brokered the London hotel deal.
The two who were initially remanded till yesterday had their remand order extended by another four days.