Felda’s Finance Department was not aware that Felda Investment Corporation Sdn Bhd ’s RM160 million purchase of Merdeka Palace Hotel & Suites in Kuching, Sarawak, did not have the approval of its board of directors.
The third prosecution witness, who is now Felda Transformation Unit director, was testifying on the second day of the trial of former Felda chairperson Mohd Isa SamadAsked by deputy public prosecutor Afzainizam Abdul Aziz whether it was really necessary for FICSB to seek the board’s approval on the purchase in order to obtain the advance money, Mohd Shahrin maintained that it was.
“Based on the practice at the Felda finance department, if the approval is not obtained, we will usually discuss with the management before referring the matter to the Felda general manager or his deputy,” he said. “I came to know about the mandate on the RM100 million investment limit during the trial of a former Felda director involving a fish breeding project in 2017,” he added.
Boss steal. Staff sleep. Felda settlers suffer.
Hotel wasn't aware there even was a finance department.