Felcra board of directors aware of investment risk, court told in Bung’s graft case

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KUALA LUMPUR: Felcra’s board of directors was aware that the choice to speculate RM150mil in Public Mutual Berhad’s unit trusts was dangerous, the Sessions Court was told.

Former Felcra Bhd group chief monetary officer Mohd Azmy Abu Samah, 54, nevertheless, stated he requested the board of directors to think about the investment proposal when presenting it in a board assembly.

“However, the choice on the investment was not offered or mentioned in the highest administration council assembly,” he stated throughout cross-examination by lawyer Datuk Ok. Kumaraendran, representing Datin Seri Zizie Izette Abdul Samad, on the corruption trial involving Kinabatangan MP Datuk Seri Bung Moktar Radin and his spouse (Zizie Izette) earlier than choose Rozina Ayob.

The twenty sixth prosecution witness stated throughout the presentation session, he knowledgeable the board that Felcra had RM300mil of money to speculate and requested the board to think about it.

Asked by Kumaraendran whether or not former Felcra CEO Datuk Ramlee Abu Bakar raised any points throughout the presentation, the witness stated the CEO solely wished to know the rationale the unit belief investment was not delivered to the council assembly.

However, Mohd Azmy stated there was no objection or dialogue from the board of directors relating to the investment.

Kumaraendran: Did the board proceed with the investment (RM150mil)?

Mohd Azmy: Yes.

The witness additionally agreed with Kumaraendran’s suggestion that the RM150mil investment was made by Felcra on May 18, 2015.

He additionally agreed with Kumaraendran’s suggestion that the board had by no means accepted any quantity to be invested by Felcra.

In the earlier proceedings, Mohd Azmy told the court that the Ministry of Finance agreed to approve the RM150mil investment after three investment proposal papers had been submitted by Bung Moktar.

The proceedings will proceed on April 12.

On May 3, 2019, Bung Moktar, 64, pleaded not responsible to 2 expenses of receiving bribes amounting to RM2.2mil and RM262,500 as an inducement to acquire the approval of Felcra to make a RM150mil investment in Public Mutual unit trusts.

Bung Moktar, who was the then non-executive chairman of Felcra, allegedly obtained the bribes from Public Mutual investment agent Madhi Abdul Hamid by Zizie Izette on the Public Bank department in Taman Melawati right here between 12.30pm and 5pm on June 12, 2015.

He additionally pleaded not responsible to receiving money bribes of RM335,500 from unit belief guide Norhaili Ahmad Mokhtar beneath Zizie Izette’s title for a similar cause on the identical place on June 19, 2015.

Zizie Izette, 44, pleaded not responsible to a few expenses of abetting along with her husband on the matter on the identical place, date and time. – Bernama



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