PUTRAJAYA (THE STAR/ASIA NEWS NETWORK) - Former chairman of land development agency Felda Mohd Isa Abdul Samad was arrested on Tuesday (Aug 15) by the Malaysian Anti-Corruption Commission (MACC) in connection with controversial hotel purchases by Felda's subsidiary Felda Investment Corporation (FIC).
The MACC is investigating FIC's purchase of a four-star hotel in London's upmarket Kensington area for RM330mil (S$104.8 million) between 2013 and 2015.
The actual value of the property at the time of purchase was said to be RM110mil.
It is also investigating the company's acquisition of a Kuching hotel at a price of RM160mil in 2014.
It is believed that FIC - Felda's investment arm that focuses on real estate, hospitality and the oil and gas sectors - had bought the hotel at between RM40mil and RM50mil above the actual value.
MACC sources said Mohd Isa was arrested at 4.24pm after being questioned for two hours.
MACC Deputy Chief Commissioner Datuk Azam Baki confirmed this when contacted.