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Monday, 17 July 2017 | MYT 10:35 AM

MACC raiding Felda Investment Corporation office

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) is currently conducting a raid on the Felda Investment Corporation (FIC) office here.

Update: MACC raid against FIC ends, three boxes of documents seized

Several uniformed officers from the national anti-graft body arrived at Balai Felda here at 10.20am on Monday in two separate vehicles.

The raid follows the discovery of fresh information obtained by the MACC which showed that a piece of property located in London's upmarket Kensington area was purchased 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 high-end property focusing on possible elements of corruption or abuse of power.

FIC – Felda's investment arm – was said to have acquired the four-star hotel between 2013 and 2015.

The hotel was purchased for a total £60mil (RM330mil), making it the 12th investment in Felda's group hospitality portfolio.

 

Tags / Keywords: Malaysian Anti Corruption Commission , MACC , Felda Investment Corporation , FIC , Hotel , London , Kensington

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