MACC raids Felda Investment Corp’s office

 |Jul 17, 2017


KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) raided  the Felda Investment Corporation (FIC) office here today.

According to The Star Online, several uniformed officers from the national anti-graft body arrived at Balai Felda at 10.20am today in two separate vehicles.

This move follows the discovery of fresh information obtained by MACC that showed that a piece of property located in London’s upmarket Kensington area was bought at a high price, resulting in losses amounting to millions of ringgit.

MACC chief commissioner Datuk Dzulkifli Ahmad had ordered a thorough probe into the purchase of the property, focusing on possible elements of corruption or abuse of power.

FIC – Felda’s investment arm – was said to have acquired the four-star hotel between 2013 and 2015 for a total £60 million (RM330 million.