Irregularities in Felda’s London investments

Several new emphasis have been identified and among them is to restructure Felda, strengthen its core activities by identifying a new plantation management model, strengthen its financial position and intensify initiatives that are linked to the welfare and prosperity of the settlers

PETALING JAYA: Many irregularities were highlighted in the forensic study on Felda’s London investments, particularly the purchase of the Park City Grand Plaza Kensington hotel and two other properties in Wembley.

The common theme with the two investments were that they were done without the approval of Felda’s board of directors, and the involvement of third party companies in the deals, resulting in a breach of confidentiality in both instances.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights



Next In Business News

Poor skinny kid from Malaysia makes it really big Premium
Brent could push past US$150/bbl if Russian oil exports shrink, BofA says Premium
Indonesia to allocate about 1 million tonnes of palm oil for export Premium
UK equities record best week since mid-March Premium
Oil settles up ahead of US driving season Premium
World stock markets rally, treasury yields fall on inflation data Premium
Wall St Week Ahead-Stock rally fanned by hopes of Fed 'past peak hawkishness' Premium
Embracing sustainability Premium
Mortgage rates drop to shore up housing sector amid Covid woes Premium
No more low for central banks Premium

Others Also Read