In a report highlighting the controversial purchase of a luxury hotel in London and another in Kuching, The Edge said the Malaysian Anti-Corruption Commission (MACC) should clarify whether it was only Isa who was responsible for the hotel deals.
“Was Isa alone responsible for the hotel acquisitions? Was there no due diligence done? Were there no advisers or anyone else involved in the decision-making?
“MACC should clarify all this and explain if Isa is solely responsible when all acquisitions have to be approved by the board,” it said.
On Aug 15, Isa was arrested in connection with the hotel deals which purportedly resulted in FIC losing millions of ringgit.
The hotel in London is likely the four-star Grand Plaza Kensington Hotel which FIC acquired on Dec 16, 2014. The hotel in Kuching meanwhile is the five-star Merdeka Palace Hotel & Suites.
Both hotels were allegedly bought at a much higher price than the market price. MACC is also investigating a third hotel, the Grand Borneo Hotel in Kota Kinabalu, for the same reason.
Isa was released after five days in detention and his lawyer, K Kumaraendran, clarified that his client was only called in to assist in the investigation, and was not a suspect.
However, speculation has been rife over the reasons behind the investigation.
The Edge quoted a corporate personality who said it was all a “sandiwara” or charade ahead of the 14th General Election (GE14), adding that Isa would walk free after that.
“It’s all part of an election ploy to show that the government is doing something, coming down hard on corruption,” he was quoted as saying.
Others suggested that Isa had made enemies of powerful personalities linked to Umno, saying his name was now tarnished and that he was taking a worse beating than in 2005, when he was suspended from Umno for six years following accusations of involvement in money politics.
The report warned that Isa could find it difficult to make a second comeback given the current public mood against corruption and abuse of power.
“But then again, one can never rule out anything in the rough and tumble world of politics where horse-trading and, yes, sandiwara are the norm,” it said.