PETALING JAYA: Former Felda Investment Corporation (FIC) chief executive officer Zaid Abdul Jalil has been remanded for another four days, in the latest turn of events surrounding investigations into FIC’s purchase of a luxury hotel in London.
Zaid, who was initially remanded for four days to assist in the probe, will be held until Aug 8 after Magistrate Muhamad Safuan Azhar allowed MACC’s application for the extension, The Star reported today.
Zaid was arrested at the MACC headquarters on Monday after giving his statement to the anti-graft body and remanded the next day.
The hotel in question is likely the four-star Grand Plaza Kensington Hotel which FIC acquired for £60 million (RM330 million) on Dec 16, 2014.
Preliminary investigations by MACC revealed that FIC was believed to have bought the hotel at a much higher price than the market value , resulting in FIC allegedly losing millions of ringgit.