THE Malaysian Anti-Corruption Commission (MACC) has detained two people to assist investigations into the purchase of a hotel in London by Felda Investment Corporation Sdn Bhd (FIC).

The two were detained at the MACC headquarters in Putrajaya at 1pm today after giving their statements on FIC’s purchase of a four-star hotel in Kensington between 2013 and 2015.

A source told The Malaysian Insight that one of the individuals detained was a 45-year-old director of an asset management company that was party to the purchase of the hotel.

The other individual is the 36-year-old head of an asset management unit for a postal service company.

The two individuals were working in a real estate company when FIC was negotiating the purchase of the hotel.

The source said the two suspects allegedly manipulated the price of the hotel, resulting in FIC paying millions of ringgit more than the market price.

MACC has already interviewed 11 witnesses in its investigation.

The hotel the MACC referred to is likely the Grand Plaza Kensington Hotel, which was purchased by FIC in December 2014 for £60 million (RM330 million).

The Grand Plaza Kensington is a four-star hotel with 62 guest rooms, located at Lexham Gardens within the exclusive district of Kensington and Chelsea.

The acquisition is FIC’s first London property and Felda’s second.

The purchase was made under FIC ceo Mohd Zaid Abdul Jalil and while Isa Samad was chairman of Felda Global Ventures Holdings Bhd (FGV), another Felda subsidiary. – July 21, 2017.