An anti-corruption NGO wants government-linked firm Felda Global Ventures Holdings Bhd (FGV) to explain if it had bought luxury condominium units at a time when its share prices were plummeting.

National Oversight and Whistleblowers (NOW) executive director Rafizi Ramli, who is also the MP for Pandan, said it was common knowledge that FGV has not been performing well.

“In fact, it performed miserably since it was listed in 2012,” Rafizi said at a press conference today at the NGO’s headquarters.

Malaysiakini has contacted FGV and is awaiting its response on the matter.

Citing FGV’s share prices, Rafizi pointed out how the shares were priced between RM5 and RM1.70 from 2012 to 2016. FGV’s share price today stands at RM1.39.

This, he said, is a cause of concern since 58 percent of FGV is owned by the public.

Rafizi, who is also a PKR vice-president, based his suspicion on alleged sales and purchase agreements for two luxury condominium units at The Troika, a building on Lorong Binjai and next to the Kuala Lumpur City Centre park.

The first unit was bought at RM5.1 million, while the other was bought at RM3.2 million.

Altogether, FGV bought the units, previously owned by a foreigner, for RM8.43 million on Sept 29, 2014.

FGV chief executive officer Mohd Emir Mavani Abdullah signed the alleged sales and purchase agreements.

However, FGV’s latest financial statement, dated Dec 31, 2015, showed that FGV did not receive any form of rental income from the two units.

FGV’s new line of leadership must therefore explain the company’s need to purchase the two condominium units, Rafizi said.

It must also confirm whether the two units are still owned by FGV.