Felda’s pricey London hotel buy sparks probe, Umno disquiet
(TMI) – State plantation giant Felda’s £98 million (RM497 million) purchase of a London serviced apartment complex is now being investigated by anti-graft officials and could derail its chairman Tan Sri Isa Samad’s chances in the Umno vice-presidential race.
The Malaysian Insider understands there is also growing disquiet in Umno over the hefty price paid by Felda Investment Corp (FIC) UK Properties for the Grand Plaza Service Apartments in London’s Bayswater suburb, a popular area among Malaysians living in the UK capital city.
“The price tag is the talk among Umno people because it is very expensive and it isn’t something that Felda should venture into,” an Umno warlord told The Malaysian Insider.
“There has been enough controversies over the FGVH listing, so we don’t need another cause for the opposition to use,” he added, referring to the Felda Global Ventures Holdings public listing last year.
It is also learnt that the Malaysian Anti-Corruption Commission (MACC) is looking into the matter to see if there is any element of corruption in the deal that was sealed on September 4.
Sources said the MACC is working with others to investigate the matter.
“This is a sensitive matter as it involves an agency led by an Umno aspirant. It must not be seen as a way to knock Isa off the race,” a source told The Malaysian Insider.
Read more at: http://www.themalaysianinsider.com/malaysia/article/feldas-pricey-london-hotel-buy-sparks-probe-umno-disquiet
