Business

FIC paid £34 million for two plots of land in London, not one

rafizi-ramli-fic-uk-apartment-london

Zaidi Azmi
Written by Zaidi Azmi

KUALA LUMPUR – November 1, 2017: Felda Investment Corporation (FIC) Sdn. Bhd. has confirmed that it paid £34 million (about RM190.11 million) for two plots of land in London instead of one as alleged by PKR vice-president Rafizi Ramli.

FIC’s clarification came following Rafizi’s claim last week that the company had been defrauded of £14 million due to overpaying a plot that he claimed only costs £20 million.

According to FIC, the two plots are the sites of Felda House and Grand Felda House owned by the company.

“Rafizi’s actions are irresponsible and FIC is dismayed that he has seen it fit to make these sweeping statements without first ensuring its accuracy.

“FIC wishes to reiterate that it is the owner of two companies in the British Virgin Islands, namely FIC London Hotel (Private) Ltd. and FIC Global Ltd., which in turn owns The Park City Grand Plaza Kensington, Felda House and Grand Felda House,” reads FIC’s statement.

FIC is the investment arm of the Federal Land Development Authority that undertakes business activities which are non-plantation related, namely property development, hospitality and others.

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About the author

Zaidi Azmi

Zaidi Azmi

Despite becoming The MOLE's journalist in 2014, he still has a hard time traversing the city. If he is not lost, this northern kampung boy can be found struggling to make some sense out of the Malaysian political sphere.