Charges expected against Isa Samad tomorrow

Isa became Felda chairman in 2011 and stepped down in January last year after the agency suffered financial losses. — Picture by Azinuddin Ghazali
Isa became Felda chairman in 2011 and stepped down in January last year after the agency suffered financial losses. — Picture by Azinuddin Ghazali

KUALA LUMPUR, Dec 13 — The Malaysian Anti-Corruption Commission (MACC) will charge former Felda chairman Tan Sri Isa Samad tomorrow over a property deal at the government-linked corporation.

A source privy to the matter confirmed to Malay Mail that Isa will be prosecuted at the minimum over Felda’s 2014 purchase of Merdeka Hotel in Kuching for an allegedly inflated price and possibly another charge from a separate case.

Isa is at the Malaysian Anti-Corruption Commission (MACC) today for his 9am appointment with the agency’s investigators.

“Yes. I was told to be charged on two cases. One of it involving the purchase of a hotel in Sarawak,” the source said.

Last month, it was reported that MACC would recommend corruption charges against Isa over the property deal under Section 23 of the MACC Act that covers the abuse of one’s office for personal gratification.

In 2014, Felda Investment Corporation (FIC) bought the 213-room Merdeka Palace Hotel for RM160 million when it had been valued at RM110 million.

A government audit in 2016 found that, under Isa, Felda had also invested in other dubious projects that resulted in losses of more than RM100 million to the agency.

The former Negri Sembilan mentri besar became Felda chairman in 2011 and stepped down in January last year after the agency suffered financial losses.

At end of June this year, its debt stood at RM8 billion.