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Bung Moktar and wife’s corruption trial: Felcra board of directors aware of risks involved in unit trust investment, witness tells court | Malay Mail

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Bung Moktar and wife’s corruption trial: Felcra board of directors aware of risks involved in unit trust investment, witness tells court

KUALA LUMPUR, April 8 — Former Felcra Bhd group chief financial officer told the Sessions Court today that Felcra’s board of directors was aware that the decision to invest RM150 million in Public Mutual Berhad’s unit trust was risky.

“However, the decision on the investment was not presented or discussed in the top management council meeting,” he said during cross-examination by lawyer Datuk K Kumaraendran, representing Datin Seri Zizie Izette Abdul Samad, at the corruption trial involving Kinabatangan Member of Parliament Datuk Seri Bung Moktar Radin and his wife before Judge Rozina Ayob.

Asked by Kumaraendran whether former Felcra chief executive officer Datuk Ramlee Abu Bakar raised any issues during the presentation, the witness said the CEO only wanted to know the reason the unit trust investment was not brought to the MPT. He also agreed with Kumaraendran’s suggestion that the board had never approved any amount to be invested by Felcra.

 

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