Former Federal Land Consolidation and Rehabilitation Authority (Felcra)’s group chief financial officer (CFO) told the Sessions Court Thursday that he had received direct instructions from Kinabatangan MP Datuk Seri Bung Moktar Radin to expedite the board of directors’ resolution on Felcra’s RM150 million investment in Public Mutual Berhad’s unit trusts
KUALA LUMPUR, March 28 The Sessions Court today was told that Felcra’s proposal to invest RM50 million in Public Mutual Berhad unit trust was made without the knowledge of the chief executive officer (CEO) Datuk Ramlee Abu Bakar as there was an office cold war in Federal Land Consolidation.
KUALA LUMPUR: The Finance Ministry agreed to approve the RM150mil investment by the Federal Land Consolidation and Rehabilitation Authority (Felcra) in Public Mutual Berhad unit trust after three investment proposal papers were submitted by Kinabatangan MP Datuk Seri Bung Moktar Radin, a Sessions Court was told.