MACC opens 7 probe papers on Felda, subsidiary

The Malaysian Anti-Corruption Commission (MACC) has initiated seven investigations into Felda and its subsidiary, Felda Investment Corporation Sdn Bhd (FIC), over alleged misappropriation, abuse of power, and corruption involving investments from 2010 to 2020. MACC chief commissioner Abd Halim Aman revealed that the extensive special probe would focus on investment transactions and asset acquisitions during this period. Six new investigation papers were opened on August 24, while one existing paper remains active.

The investigations include FIC's investments in Tataran Aras Sdn Bhd, Grand Borneo Hotel Sdn Bhd, and Grand Plaza Service Apartments in London. Additionally, the establishment of Felda Wellness Corporation Sdn Bhd, acquisition of Felda House and Grand Felda House, and alleged misappropriation related to the Kuala Lumpur Vertical City project are under scrutiny. An existing investigation involving the Park City Grand Plaza in London is also being reviewed, along with parallel legal assistance processes.

MACC has enlisted 12 individuals, including three FIC board members, an FIC secretary, two FIC legal division officials, a valuer, three legal professionals, and officers from the Kuala Lumpur land and mines office and the Kuala Lumpur valuation and property services department, to assist in the investigations. Several arrests are anticipated in the coming days, with the first expected as early as next week.

The total value of the alleged bribes remains undetermined as the inquiry is still in its early stages. Prime Minister Anwar Ibrahim had previously stated that Felda faced losses of nearly RM10 billion due to mismanagement and excessive political interference, and the government plans to release a special task force report on the agency's issues.