I had no personal interest in Kuching hotel purchase, says FIC ex-CEO

Former Felda Investment Corporation CEO Mohd Zaid Abdul Jalil.

KUALA LUMPUR: A former Felda Investment Corporation (FIC) CEO today dismissed a suggestion that he had a vested interest in ensuring the purchase of a hotel in Kuching went through.

Mohd Zaid Abdul Jalil said his visit to the Sarawak capital at the instruction of former Felda chairman Isa Samad in late 2013 was to only physically look at the property.

“I dismiss the suggestion by the defence that I had an interest in persuading the FIC board to buy the hotel,” he said when cross-examined by counsel Salehuddin Saidin.

The lawyer made the remarks as Zaid had gone to Kuching with Isa’s special officer, Muhammad Zahid Md Arip, who is also scheduled to testify in the trial.

The witness said they stayed one night in Kuching after visiting the Merdeka Palace Hotel & Suites.

Zaid said they were met by Ikhwan Zaidel, a director of Syarikat Gegasan Abadi Properties, which owned the property, to inspect the hotel.

He said the following day, they paid a courtesy call on then Sarawak deputy chief minister Abang Johari Abang Openg at his private residence.

“He (Abang Johari) showed us the Kuching development plan that was approved by the state government,” he said.

The witness said Abang Johari, who is now the state chief minister, told them that the hotel was strategically located.

Zaid said his staff had prepared a paper in September 2013 for the FIC board to consider buying the hotel at RM109 million but the price was raised to RM137 million in February 2014 following a valuation exercise.

Zaid said his staff then prepared another paper and valued the hotel at RM153 million for the board’s approval in early April 2014.

He said the hotel owner finally offered a new price of RM165 million and a possible discount of RM5 million. The board, in late April, decided to buy it at RM160 million.

Isa is charged with one count of CBT and nine others for receiving over RM3 million in gratification in approving the purchase of the hotel for FIC.

He is accused of committing the offences at Menara Felda in Kuala Lumpur between April 29, 2014 and Dec 11, 2015.

The hearing before judge Mohd Nazlan Mohd Ghazali continues. - FMT