Finance Dept unaware hotel purchase not approved by Felda, says witness | Malay Mail

📆 08/10/2019 17:48:00
📰 malaymail

⏱ Reading Time:
22 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 86%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

KUALA LUMPUR, Oct 8 — Felda’s Finance Department was not aware that Felda Investment Corporation Sdn Bhd (FICSB)’s purchase of Merdeka Palace Hotel & Suites (MPHS) in Kuching, Sarawak, worth RM160 million, did not have the approval of its board of directors (BOD). Former...

Tuesday, 08 Oct 2019 06:28 PM MYT

Former Felda finance director Mohd Shahrin Mohd Ali, 50, told the High Court here today that an application from FICSB, a subsidiary of Felda, for an advance of RM1 million and RM1.88 million to purchase the hotel, made no mention of any approval for the deal. The witness said Felda’s finance department would not have approved the advance payment to FICSB had it known that the purchase did not get the approval of the BOD.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance Dept unaware hotel purchase not approved by Felda - witnessEx-Felda finance director testifies during second day of trial of former Felda chairperson Mohd Isa Samad. Hotel wasn't aware there even was a finance department. Boss steal. Staff sleep. Felda settlers suffer.
Source: malaysiakini - 🏆 20. / 51 Read more »