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Isa Samad corruption trial: Felda channels RM653 million to FICSB

KUALA LUMPUR, The High Court here was today told that Felda had channelled funds to its subsidiary, Felda Investment Corporation Sdn Bhd (FICSB) amounting to RM653 million for investment and business.

Felda Transformation Unit director, Mohd Shahrin Mohd Ali, 50, said the payment of funds were RM499.5 million on May 27 2014; RM51,208,139.71 (Sept 23 2014); RM100 million (May 29 2015); RM1 million (Oct 21 2015) and RM1.88 million on Oct 28 2015.

He said the payment of RM499.5 million was as advance to FICSB through a loan Felda obtained from Maybank Islamic Berhad.

The third prosecution witness said when reading a witness statement during an examination-in-chief by deputy public prosecutor Afzainizam Abdul Aziz on the first day of trial in the case of former Felda chairman, Tan Sri Mohd Isa Samad before Judge Mohd Nazlan Mohd Ghazali.

He said the RM51,208,139.71 was the paid-up capital of FICSB which was from Felda’s internal fund.

“The paid-up capital is an injection of capital which could be used by FICSB for its business operations. The paid-up capital given to FICSB was considered as an investment which would issue dividend if the company make profits, he said.

Mohd Shahrin who was Felda finance director up to March 2019 said the fund amounting to RM100 million was an advance to FICSB to finance its acquisition of Merdeka Palace Hotel and Suit (MPSB) in Kuching, Sarawak.

The fund is an advance given to FICSB via a loan Felda obtained from Employees Provident Fund (EPF), he said.

The witness also confirmed that RM1 million given to FICSB was channelled towards the company’s subsidiary as the loan would have to be paid back by FICSB to Felda.

I also confirmed the fund totaling RM1.88 million was channelled to FICSB as a loan which has to be repaid by the Felda subsidiary, he said.

On Dec 14 2018, Mohd Isa, 70, pleaded not guilty to one charge of criminal breach of trust and nine counts of accepting bribes amounting to more than RM3 million at Menara Felda, Platinum Park, Persiaran KLCC between April 29 2014 and Dec 11 2015.

The trial before Justice Mohd Nazlan will continue tomorrow.

Source: BERNAMA (News Agency)

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