Malaysia Anticorruption Commission Arrests Former Felda Chairman

By Yantoultra NguiFeaturesDow Jones Newswires

KUALA LUMPUR, Malaysia--The Malaysian Anti-Corruption Commission on Tuesday arrested on the former chairman of Malaysian state-owned palm oil firm Felda Global Ventures Holdings Bhd. (5222.KU), according to an antigraft officer.

Mr. Isa Samad, who was also the former chairman of Felda Global's largest shareholder, Federal Land Development Authority, was arrested over the purchase of two hotels by Felda Investment Corp Sdn Bhd., a unit of Felda, according to the officer.

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Mr. Isa, Felda Global and Felda weren't immediately available to comment.

Mr. Isa resigned in June as Felda Global's chairman amid infighting at the world's third-largest operator of palm plantations. He was then appointed as the acting chairman at the country's Land Public Transport Commission, which oversees big-scale projects such as the Kuala Lumpur-Singapore high-speed rail project.

Felda Investment Corp. was reportedly to have bought one hotel in London and another in Kuching in the Borneo state of Sarawak, Malaysia, on inflated prices.

Write to Yantoultra Ngui at

(END) Dow Jones Newswires

August 15, 2017 06:35 ET (10:35 GMT)