MACC DETAINS FORMER FIC CEO AFTER QUESTIONING

Suspect expected to be remanded today

AFORMER chief executive officer of Felda Investment Corporation (FIC) was detained after 12 hours of questioning by the Malaysian Anti-Corruption Commission here last night.

The arrest was to facilitate investigations into FIC’s purchase of a RM330 million four-star hotel in Kensington, London.

MACC investigation director Datuk Simi Abd Ghani confirmed the arrest and said the suspect was expected to be remanded today.

The former CEO arrived at the MACC headquarters at 9.30am to have his statement recorded and was arrested at 9.30pm.

Three people were arrested earlier by MACC over investigations into the purchase of another hotel, allegedly with an inflated price, in Kuching, also by FIC.

Investigators were reportedly probing into FIC’s purchase of the four-star hotel and why the firm paid RM160 million for the property, which had a market price of RM110 million.

MACC chief commissioner Datuk Dzulkifli Ahmad had said the purchase of the hotel was above the market price, causing millions of ringgit in losses to the investment arm of the Federal Land Development Authority.

In another development, lawyer Mohamed Ridza Abdullah yesterday clarifie d that l aw firm Mohamed Ridza & Co. was not under investigation by MACC.

He was commenting on news reports that suggested the firm was investigated over MACC’s probe into FIC’s Kuching hotel purchase or another matter.

“As lawyers for the transaction, MACC visited our office to request our support and assistance in providing agreements relating to the acquisition.

“As responsible corporate citizens, we are happy to assist and cooperate with MACC and all other authorities in accordance with the provisions of the law,” he said.