KUALA LUMPUR: The High Court in the corruption trial of former Felda chairman Isa Samad was told today that a hotel in Kuching was purchased at about 50% above market price.
He said the new Felda board, chaired by Shahril Abdul Samad, had called for the revaluation following claims that it was purchased at an inflated price.FIC purchased the hotel in 2014 for RM160 million, reportedly without mandate from its parent body. Azlan, the fourth prosecution witness, said a tender exercise by Saville Sdn Bhd last year showed the hotel was valued at RM77.5 million.
Earlier, Isa’s lawyer Salehuddin Saidin objected to the revaluation report in Azlan’s witness statement, saying his client is facing criminal charges as a result of not obtaining approval from Felda.