News: FELDA Allegedly Gave Away RM270mil Land for Free

Jan 9, 2018

 
How did the Federal Land Development Authority (FELDA) lose ownership over a land in Jalan Semarak valued at about RM270 million in 2015 without allegedly getting anything in return?

This is among the things that third-party experts and accountants hired by the Prime Minister’s Department will attempt to find out when they start the forensic audit on Monday (8 January).

On Sunday (7 January), FELDA’s current Chairman Tan Sri Shahrir Samad claimed that the land changed hands without their knowledge or consent.

“We see the transfer as wrong and we want the land back. We are of the idea that there was no need for the developer to transfer the land’s ownership for development.”

The land was intended for the Kuala Lumpur Vertical City (KLVC) project, but Synergy Promenade, which was appointed to undertake the development, alleged used a power of attorney to take control of the property in 2015.

Last month, the Royal Malaysia Police questioned FELDA’s former chairman Tan Sri Mohd Isa Samad regarding the suspicious transaction as it happened during his term.

The anomalous deal came to light after Shahrir filed a police report on 12 December. Then later that month, Berita Harian reported that the government agency risks losing at least RM200 million from that deal.

The Kuala Lumpur Vertical City (KLVC) project will comprise seven buildings. These include FELDA’s 59-storey KLVC Tower 1A, which comes with a two-level office podium, a rooftop garden and a helipad.

 

Image sourced from Malay Mail.

 

This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my

 

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Edmend Chua
Senior Negotiator
REN: 03530
WorldLand Realtors Sdn. Bhd.
edmend.chua@hotmail.com
(+60) 12-6892783