MACC nabs three over FIC’s Kuching hotel purchase

(MMO) – The Malaysian Anti-Corruption Commission (MACC) has arrested three individuals today to assist with investigations over Felda Investment Corporation’s (FIC) purchase of a hotel in Kuching three years ago.

A source familiar with the matter told Malay Mail Online that two of them were directors of a company appointed as the agent to manage the purchase.

The duo, aged 47 and 51, were arrested at the MACC’s headquarters in Putrajaya this morning at 9am when they attended to give a statement regarding the case.

Meanwhile, the third man — a 57-year-old director of the company that owns the hotel — was arrested at the Kuching MACC office at 1.30pm.

“Early investigation showed that the director of said company had appointed the agent company to manage the hotel purchase,” said the anonymous source.

MACC Investigation Division director Datuk Simi Abd Ghani also confirmed the arrest.

The two agents have been remanded for seven days until August 4 to assist the probe, while the third suspect will be remanded until tomorrow, he said.

Yesterday, MACC confiscated documents relating to the purchase after raiding six locations in Kuala Lumpur as well as in Kuching to gather information on the purchase.

The investigation papers were opened upon the instructions of MACC Chief Commissioner Datuk Dzulkifli Ahmad to investigate the purchase of the hotel in Kuching, which was suspected to have been bought at a higher-than-market price.

According to the statement, from early information obtained in the case, the FIC was believed to have bought the hotel at a price much higher than the original, causing it to suffer losses amounting to hundreds of millions of ringgit.