NO WONDER ISA IS SMILING: IN BIG SHOW, MACC REMANDS EX-FELDA CHIEF FOR 5 DAYS BUT OOPS! FORGETS TO FREEZE HIS ASSETS

KUALA LUMPUR — The Malaysian Anti-Corruption Commission has secured a court order to detain Tan Sri Isa Samad for the investigation into alleged abuse at a Felda unit.

According to The Star Online, the magistrate’s court in Putrajaya allowed the MACC to hold the former minister five days for its investigations into the purchase of a London hotel by Felda Investment Corp.

The MACC arrested Isa yesterday and raided his home in Selangor.

FIC purchased the Park City Hotel in Kensington, London for £98 million (RM543 million) in 2014.

MACC chief commissioner Datuk Dzulkifli Ahmad previously said his agency determined that FIC’s purchase was above market price, causing millions of ringgit in losses to the investment arm of government agency Felda.

The MACC has made several arrests in the case, including the chief executive of FIC.

The investigation was triggered by a boardroom tussle involving Isa and the currently suspended CEO of Felda Global Ventures, Datuk Zakaria Arshad.

MEANWHILE, according to Malaysiakini:

MACC yet to freeze Isa Samad’s assets

The Malaysian Anti-Corruption Commission (MACC) has yet to decide whether it would proceed to freeze assets belonging to former Felda chairperson Mohd Isa Samad who was arrested yesterday in connection with the purchase of two luxury hotels by the company’s subsidiary.

 

Malay-daily Utusan Malaysia quoted MACC deputy commissioner in charge of operations Azam Baki as saying that further actions will only be taken after receiving more information from the investigating officers.

“I am not saying that he (Mohd Isa) has taken any money… Don’t speculate because investigations are ongoing.

“We (MACC) may be calling a few more individuals to record their statements,” Azam was quoted as telling reporters in Kelantan last night, a few hours after Isa’s arrest.

He also added that the MACC has so far recorded more than 40 statements from various parties related to the investigations.

Isa had his statements recorded over the purchase of two hotels by Felda Investment Corporation (FIC) – a subsidiary of Felda which engages in non-agricultural business.

He was taken to the Putrajaya Magistrates court this morning for the remand hearing.

The MACC is probing allegations that the FIC acquisition of a hotel in Kensington, London between 2013 and 2015, was at a price which caused the Felda subsidiary to suffer massive losses.

FIC reportedly bought the four-star hotel for 60 million pound sterling (about RM330 million) on Dec 16, 2014.

It was reported that the MACC is also investigating FIC’s acquisition of a hotel in Kuching, following new leads uncovered in the course of the probe on the Kensington hotel.

MALAY MAIL / MKINI

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