KUALA LUMPUR: Tan Sri Mohd Isa Abdul Samad allegedly received about RM3mil from the sale of Merdeka Palace Hotel and Suites in Kuching to Felda Investment Corporation Sdn Bhd in 2014, the High Court heard on Monday
On the CBT charge, DPP Afzainizam said that Isa – in his capacity as the director of FICSB – played an active role in the purchase of Merdeka Palace Hotel and Suites by the Felda subsidiary from Gegasan Abadi Properties at an inflated price of RM160mil. "The decision by the board of directors to not go through with the plan to buy Merdeka Palace Hotel and Suites was relayed to Ikhwan on Feb 28,2014," he said.
He said that Zaid had also told Isa about the RM160mil offer for the hotel, and added that Zaid had also informed the accused that a new valuation had been made on the hotel by FICSB management valuing the hotel at RM153mil. "The prosecution will show that at FICSB's 10th board of directors' meeting on April 29,2014 that the accused – as the director and chairman of the board of directors – had approved the proposal to purchase Merdeka Palace Hotel and Suites for the price of RM160mil.
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