malaysiakini logo
story-image
mk-logo
News
Why are Felda assets held by obscure offshore entities, Rafizi queries
Published:  Oct 16, 2017 9:45 PM
Updated: Oct 17, 2017 7:35 AM
ADS

PKR vice-president Rafizi Ramli has questioned why several of Felda's overseas assets are held by obscure companies registered in the British Virgin Islands (BVI).

He pointed out that this was despite Felda's audited report claiming the assets were held by entities registered in the United Kingdom.

For example, he said the audited report showed the Grand Plaza Kensington Hotel in London, purchased for RM330 million, was placed under FIC London Hotel (Private) Ltd registered in the UK but it was instead owned by a company of the same name in the BVI.

Rafizi said likewise, Felda's assets such as the RM380 million Felda House Wembly and RM656 million Grand Felda Hotel in Wembley, UK, saw a similar setup.

The two properties were placed under BVI-registered FIC Global Ltd instead of the one registered in the UK...

Unlocking Article
Unlocking Article
View Comments