FELDA - ISA, NAJIB, LADYLAW

(FUDZAIL)

FELDA – Isa Samad Agreed To Invest A Billion On Najib’s Bidding

Despite the evidently dubious nature of Ladylaw Securities as a partner for Malaysia’s major public savings funds, correspondence shows that contacts within EPF, FELDA and FELCRA, apparently on the bidding of the Minister of Finance, were soon treating the approaches seriously, with various top officials even signing off on the proposed investments.

In charge MOF pushed FELDA’s Isa Samad to lend Ladylaw the billion dollars

In late 2012/early 2013, a series of communications between Ladylaw, FELDA and the Ministery of Finance make clear that the PM’s Office was pressuring the fund to make a $1 billion investment in Ladylaw’s proposed property-based financial instrument.

On 24th December 2012, a memo from Ladylaw’s Project Coordinator, Azlan Shah Md Radzi, to the then Chairman of FELDA, Isa Samad, referred to a meeting a few days earlier on 20th December in the Ministry of Finance with the Private Secretary to the Minister of Finance Mohmed Puzi Sh Ali, indicating that it had been agreed FELDA should collaborate with the Ladylaw investment plan.

That memo was clearly copied to the “PM and MOF” and to the “Private Secretary MOF”, emphasiing the point that Najib was monitoring the negotiations.

Further memos in January 2013 show that the matter was then passed on by Isa Samad to Dr Suzana Idayu Wati Osman, Chief Strategy Officer at FELDA Global Ventures, for action.  On 30th of that month Osman replied to Ladylaw explaining that protocol prevented Felda Global Ventures from investing in the project, because it was only allowed to invest in agricultural enterprises.  However, she said the fund itself could oblige:

“…the directors of FELDA group have decided that FELDA as a government agency for managing the social economic opportunities has the mandate to invest in this portfolio as an opportunity to diversify income sources” [translated from Malay]

She went on to suggest a futher meeting on 5th March 2013 at FELDA to discuss a “total investment USD 1 Billion (RM 3.12bn)“, to be run across a term of 13 months with a “minimum annual return of 250% of the total investment”.

On April 1st 2013 Chairman Isa Samad duly wrote to the ex-con, Dr George Miller at Ladylaw Securities, using the then Director’s residential address in Gosport, Newcastle, with some good news coming out of meetings in March.

FELDA had agreed, wrote the Chairman of the fund:

“…to proceed with the money transfer through Maybank as follows:

Investor – FELDA;

Transfer Date – 9th April 2013; Amount – USD1billion (RM3,120,430,000.00) ; Transfer protocol   SWIFT MT 103;

Bank Acc – Maybank Bhd (FELDA) to HSBC London (investment Acc FELDA & LLS).”

“Your group will be informed immediately as soon as the transfer has been processed or if there are any changes. And now over to you” [translated from Malay]

FELDA’s Isa Samad confirmed an agreement to invest a billion dollars with the major fraudster!

According to present Ladylaw owner and director, Nic Manikis, the deal did not in fact proceed, despite the go ahead given by the Chairman of FELDA.  He told Sarawak Report that ‘internal issues’ apparently intervened.