KUALA LUMPUR (June 8): The Malaysian Anti Corruption Commission (MACC) has paid a visit to Felda Global Ventures Holdings Bhd's (FGV's) headquarters.

The visit came a day after FGV chief executive officer Datuk Zakaria Arshad visited MACC headquarters in Putrajaya, to assist investigation by the anti-graft agency on claims of corruption and abuse of power in the plantation giant.

At least 25 MACC officers, alongside police officers, arrived at Menara Felda at 10am today. An FGV official told reporters that the agency came to speak to the company's management, and possibly to retrieve documents that may assist in its investigation. 

The board of FGV had on June 6, given notices of leave of absence to four of its executives, including CEO Datuk Zakaria Arshad, CFO Ahmad Tilfi Mohd Talha and two management level executives of two FGV subsidiaries.

FGV's board took the action after Zakaria was revealed to have declined a request by FGV chairman Tan Sri Isa Samad for him to step down, after its auditor PwC Malaysia found improprieties related to late payment of one of FGV's long time customer Safitex Trading LCC, and to its subsidiary Delima Oil Products Sdn Bhd.

The payment, totalling US$11.7 million, was also over the annual credit limit allowed to Safitex, in its dealings with Delima Oil.

Zakaria has denied any wrongdoing, saying any transaction with Safitex had been approved by FGV's previous CEO, before him.

FGV has initiated an internal investigation headed by its group internal audit committee, while MACC is conducting the separate investigation after allegations by Zakaria on the presence of corruption and abuse of power in FGV's business dealings. 

Amid the widening dispute, the Malaysian government has roped in former minister in the prime minister's department Datuk Sri Idris Jala to oversee the progress of the internal investigation — a decision agreed upon by related parties, including FGV chairman Tan Sri Isa Samad, as well as Tan Sri Shahrir Samad, who is chairman of FELDA — the biggest shareholder of FGV.

At 11.27am, FGV fell 1.21% or 2 sen to RM1.64, with 7.65 million shares done.