Finance Ministry approved Felcra’s RM150m unit trust investment after proposal submitted by Bung Moktar, witness tells court | Malay Mail

KUALA LUMPUR, March 29 — The Sessions Court was today told that the Finance Ministry agreed to approve the RM150 million investment by the Federal Land Consolidation and Rehabilitation Authority in Public Mutual Berhad unit trust after three investment proposal papers were submitted by the Member of Parliament for Kinabatangan Datuk Seri Bung Moktar Radin.

“Nonetheless, the Finance Minister II asked Bung Moktar why not invest everything that refers to pension funds of Felcra,” said the witness during an examination-in-chief by deputy public prosecutor Mohd Sophian Zakaria at the corruption trial involving Bung Moktar and his wife, Datin Seri Zizie Izette Abdul Samad.

Questioned by Mohd Sophian on whether the RM150 million investment in Public Mutual unit trusts was earlier tabled to Felcra board of directors, Mohd Azmy replied,” No need, nonetheless any investment should be reported to the board of directors”.

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