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.