Top Felda InvestmentCorp officer held by #MACC to help probe

 

PETALING JAYA: A high ranking officer in Felda Investment Corp (FIC) has been detained by the Malaysian Anti-Corruption Commission.

It is learnt that the man was detained two days ago and has been remanded to help in investigations into investments made by FIC.

FIC, the new investment arm of Felda, has three areas of focus — hospitality, real estate and oil and gas.

Recent acquisitions by FIC have thrust itself into the limelight.

The acquisitions include the buyout of Encorp Bhd shares held by two major shareholders for RM239.72mil.

FIC also recently announced a £60mil (RM330mil) purchase of a hotel in Kensington, London.

This came after Felda itself forked out £98mil (RM500mil) last year for the Grand Plaza service apartments in the Bayswater area of London.