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MACC probes Felda's purchase of four star hotel in London

MACC probes Felda's purchase of four star hotel in London
The Malaysian Anti-Corruption Commission (MACC) is investigating the purchase of a four-star hotel in Kensington, London by Felda Investment Corporation (FIC) Sdn Bhds between 2013 to 2015.
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) is investigating Felda Investment Corporation (FIC) Sdn Bhd’s purchase of a four-star hotel in Kensington, London by between 2013 to 2015.

MACC chief commissioner Datuk Dzulkifli Ahmad said the investigating team has seized documents regarding the purchase and currently is in the process of studying all the information obtained.

“Through the information from early investigation, FIC allegedly paid more than the actual market value of the property, causing it to suffer millions of ringgit in losses.
“Investigations will be carried out to uncover any alleged elements of corruption or abuse of power in the process of acquiring the hotel,” he said in a statement today.

Dzulkifli said MACC will also call a few important witnesses to have their statements recorded.

On December 2014, the Felda Chairman Tan Sri Mohd Isa Abdul Samad announced that FIC had purchased a four star hotel for £60mil (RM330mil).

Park City Hotel, which has 62 guest rooms and two three-bedroom service apartments, was later renamed as Grand Plaza Hotel.

FIC was established in 2013, with a focus on real estate, hospitality and the oil and gas sectors.