PKR vice-president Rafizi Ramli said Felda is unlikely to recoup the whole of its £95.65 million (RM548 million) purchase of the 194-unit Grand Plaza Serviced Apartment (Grand Plaza SA) in Bayswater, London.
This was amid Felda's move to puts its overseas property assets for sale in a bid to refocus its core business, which is in plantations.
Rafizi said Felda, through its subsidiary FIC UK Properties Sdn Bhd, overpaid for the Grand Plaza SA.
He pointed to the financial report of Larmway Properties Limited, the entity which sold the serviced apartment to Felda in 2013.
Larmway Properties listed the cost of the Grand Plaza SA to only be at £54.29 million.
"Either it was a sheer incompetence on the part of Felda’s then management to pay £95.65 million for the properties, or there was certainly fraudulent elements involved when Felda ended up paying around 70 percent above market value in 2013," said Rafizi in a statement today.
He added that following Brexit, property prices in the UK have also plunged.
Rafizi also referred to UK reports about property tycoon Bruce Ritchie, who owns Larmway, being sued for cancelling an initial deal to sell the Grand Plaza SA for £80 million to Florida-based property magnate Anthony Ivankovich.
Ritchie cancelled the deal in favour of Felda after the Malaysian company offered a significantly higher price, at £95.65 million.
Rafizi urged the MACC to look into the deal to ensure that it was above board.- Mkini
Maaf bro. Error 70% tu.
ReplyDeleteFIC pymt 95.65m
Minus FA cost 54.29m
Minus Profit on FA Disposal 30.39m
Maka Surplus is 10.97m. Kebetulan tak jauh drp loan 10m yg diambil oleh FIC Mgmt Hse Ltd tetapi tidak disclosed pd audited a/cs. Musykil juga sy.