Hotel bought at RM160mil valued at just RM80mil three years later, says witness at Isa Samad trial

Former Felda chairman and FIC director Tan Sri Isa Samad

KUALA LUMPUR: A 2017 reassessment of Merdeka Palace Hotel and Suites in Kuching, bought by Felda Investment Corporation Sdn Bhd (FIC) at RM160mil in 2014, valued the property at just RM80mil, the High Court heard on Tuesday (Oct 8).

FIC chief financial officer Azlan Mohamed Ismail, 51, told the court that the board of directors of the Felda investment arm had appointed C H Williams Talhar Wong and Yeo Sdn Bhd to revalue the hotel in 2017.