PETALING JAYA: A four-star hotel in Kuching bought by Felda Investment Corporation Sdn Bhd (FIC) is being investigated by the Malaysian Anti-Corruption Commission (MACC).
Sources said the MACC is probing the purchase, which is said to be much higher than the actual market price.
"This is based on a follow-up and information obtained in relation to the ongoing high-end property purchase in Kensington, London, between 2013 and 2015, said a source.
The source added that the purchase of the property in Kuching led to losses of hundreds of millions of ringgit for FIC, Felda's investment arm.
MACC director of investigations Datuk Simi Abdul Ghani confirmed that anti-graft officers were looking into the matter.
The London property comprised 62 units of guest rooms and two units of three-bedroom serviced apartments.
It is learnt that FIC overpaid the purchase by at least £20mil (RM110mil).
FIC was established in 2013, with a focus on real estate, hospitality and oil and gas sectors.
