ACC enters Urbanco offices over land lease violating halt order

The Anti-Corruption Commission (ACC) on Tuesday entered the headquarters of Urbanco following complaints that it was trying to proceed with the leasing of Farukolhufushi land, which is now part of Hulhumale phase 2, despite a halt order by the anti-corruption watchdog. 

An ACC investigation team entered Urbanco's headquarters Tuesday afternoon.

It is learned that the team went to Urbanco following complaints that the state-owned enterprise is trying to continue the transaction in violation of the ACC order.

ACC had on October 30 ordered a halt to Urbanco leasing Farukolhufushi event space, which is now part of Hulhumale second phase, on long-term basis.

The order came after President-elect Dr Mohamed Muizzu's office expressed concern over Urbanco's efforts to complete commercial transactions related to land in Hulhumale during the transition period leading up to his swearing-in on November 17.

In addition, the ACC has asked Urbanco not to do five things, including selling and leasing land during the transitional period. In a letter signed by ACC member Shazuna Hashim to Urbanco Managing Director Ahmed Athif, the commission asked Urbanco to temporarily suspend five activities in connection with a case being investigated by the commission.

Following the results of the second round of presidential election, the Privatisation and Corporatisation Board (PCB), which oversees the affairs of state-owned companies, issued a circular on November 5 asking state-owned enterprises not to do five things including the leasing of land.

In addition, the office of the president-elect has asked companies not to do 10 things, including new projects, jobs and changes in property.