Ex-FIC director Noor Ehsanuddin quits FGV board

Ex-FIC director Noor Ehsanuddin quits FGV board

He cites personal and professional reasons for resigning, some six weeks after first expressing his intention to quit.

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PETALING JAYA: Noor Ehsanuddin Mohd Harun Narrashid has resigned as independent and non-executive director of Felda Global Ventures Holdings Bhd (FGV) amid investigations over the purchase of a luxury hotel in London by a Felda subsidiary.

According to The Edge, he cited “professional and personal reasons” for doing so.

Noor Ehsanuddin, who was appointed to the FGV board in 2013, had last month expressed his intention to quit but stayed on after acting chairman Sulaiman Mahbob personally requested that all board members remain.

The Kota Tinggi MP was formerly a director of Felda Investment Corporation (FIC), which is under investigation by the Malaysian Anti-Corruption Commission (MACC) for its purchase of the four-star Grand Plaza Kensington Hotel.

FIC acquired the Grand Plaza Kensington Hotel on Dec 16, 2014, allegedly at a much higher price than the market price. This purportedly resulted in FIC losing millions of ringgit.

On Aug 9, Noor Ehsanuddin was questioned by MACC over his role as one of the three directors of FIC at the time of the purchase.

The other two directors who are no longer with the company were Nik Azman Mohamed Zain and Omar Salim. Omar had expressed his intention to quit the FGV board alongside Noor Ehsanuddin last month.

Besides the Grand Plaza Kensington Hotel, two other hotels have also come under MACC scrutiny: the five-star Merdeka Palace Hotel & Suites in Kuching and the three-star Grand Borneo Hotel in Kota Kinabalu.

Like the London hotel, they are believed to have been bought at a price much higher than the original value.

Former Felda chairman Isa Samad was arrested by MACC on Aug 15 in connection with the suspect property purchases.

He was freed on Aug 20 after being held in remand for five days. His lawyer, K Kumaraendran, said Isa may be called back as a witness if anyone is charged in the case.

Kumaraendran also said Isa had been called in to assist the investigation and was not a suspect.

 

Third hotel comes under MACC scrutiny

Sulaiman appeals for FGV board members to stay

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