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Witness: Isa said there was no need to table proposal for hotel acquisition in board meeting

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NSTnation: Tan Sri Mohd Isa Abdul Samad had excluded the tabling of proposal for the acquisition of Merdeka Palace Hotel & Suites, costing RM160 million, in the Felda board of director’s meeting, the High Court heard.

This was revealed by former Felda Investment Corporation Sdn Bhd chief executive officer Mohd Zaid Abdul Jalil during Isa’s criminal breach of trust and corruption trial today.

“He said since a part of Felda board members WEre also FICSB board members which approved the acquisition, there was no need for the proposal to be tabled to Felda. Zaid said any investment mandate that was over RM100 million approved by FICSB must have approval from the Felda before the deal could proceed.

 

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1.WHY during Felda Board Meetin, Isa 'exclude' tabling RM160 Million proposal 4 acquisition of Hotel? 2.(Isa told lies? Said part of Felda Board Members r ALSO FIC Board Members).BUT FIC CEO said only 5 names in Both Board. Note-over RM100M investment by FIC needs Felda approval

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