MALAYSIAN Anti-Corruption Commission (MACC) is investigating another Felda Investment Corporation Sdn Bhd (FIC) hotel purchase, reported NST Online today.

The property in question is the three-star Grand Borneo Hotel, which is a part of 1Borneo Hypermall, in Kota Kinabalu. FIC is reported to have paid RM86.4 million for it in 2012.

A source said the new investigation was to establish if FIC had overpaid for the property, like it allegedly did for Park City Grand Plaza in Kensington, London, and Merdeka Palace Hotel & Suites in Kuching.

“When investigators cracked open the London hotel purchase, information surfaced about Merdeka Palace and that is why we began investigations into that deal.

“It is the same with the Grand Borneo Hotel deal,” the source said.

The four-star, 62-room Park City Grand Plaza is reported to have been bought for RM330 million, allegedly RM220 million above the real value of RM110 million, while Merdeka Palace, a five-star hotel with 213 rooms, was allegedly bought for RM50 million more than the market value.

MACC has since then called up various individuals for questioning over the purchases and raided various locations including former Felda chairman Mohd Isa Samad’s office at the Land Public Transport Commission.

Isa was arrested on Tuesday when he went to the commission’s headquarters to have his statement recorded and subsequently remanded on Wednesday for five days.

The source said Isa’s wife, Bibi Sharliza Mohd Khalid, was unlikely to be arrested she was not suspected of direct involvement with criminal wrongdoing.

On why Isa’s assets were not frozen as he is under investigation for graft and power abuse,the source said investigators had to first establish the source of his wealth.

The source said Isa has a long work history, which includes political stints during his early years.

“This process should not solely focus on the years he was with Felda,” said the source. – August 18, 2017.