Ex-Felda chairman signed Jalan Semarak land transfer

Yasmin Ramlan Yasmin Ramlan Updated 8 years ago · Published on 12 Mar 2018 2:35PM · 3 Comments

Felda officials, including its board members, are being investigated for their involvement in a land deal that saw the transfer of ownership from Felda to two private companies in 2014 and 2015. – The Malaysian Insight file pic, March 12, 2018.

THE transfer of Felda’s property in Jalan Semarak for the development of Kuala Lumpur Vertical City was signed by its former chairman, deputy minister in the prime minister’s department Razali Ibrahim said in Parliament today.

In December, the ownership of 66,000 sq m of Felda land in Jalan Semarak, Kuala Lumpur, was found to have been transferred to a private developer in 2015 without the knowledge of its board.

In a series of dubious transactions, Felda handed over the power of attorney (PA) to the firm to develop the Jalan Semarak land, estimated to be worth RM1 billion, which led to the transfer of the title.

“In this age, we can’t hide anything, a lot of things will be exposed. Now I am answering this in Parliament.

“The PA was signed by the chairman of Felda and the director at that time,” said Razali.

The information is not meant as evidence of guilt towards any party, but was merely a statement of facts, he said, without naming the former chairman.

“This expose is not meant to decide on who is right, or wrong, because investigations are ongoing,” he said in response to Fauzi Abdul Rahman (PKR-Indera Mahkota).

Isa Samad was Felda chairman from 2011 until January last year. He was replaced by Shahrir Abdul Samad.

Isa was also chairman of Felda Global Ventures Holdings Bhd (FGV) from January 2011 to June last year. He also held the position of chairman in Felda Investment Corporation since the establishment of the company in July 2013 until 2017.

Razali said the case is being investigated by forensic auditors, adding that as many as 240 documents have been taken in as evidence, including minutes of the board of directors’ meetings.

The current value of the land at RM1 billion is far higher than the RM270 million it was priced at when transferred to Synergy Promenade Sdn Bhd (SPSB), which was responsible for developing the KLVC project. Felda did not receive a sen from the transaction.

Last week, current Felda chairman Shahrir Abdul Samad said SPSB had returned 16 plots of land at Jalan Semarak as part of a new agreement with the company signed on January 15.

Under the agreement, SPSB can voluntary switch the title deeds of the land with Felda. – March 12, 2018.

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Comments

  • Yes, Isa Samad signed the land transfer but he doesn't know what he was signing then because he is a very busy man, many things to do so signing is just a formality just like Najib as chairman of 1MDB also don't know what he signed off billions because he too was too busy to look at what was being signed off (according to UMNO officials). Aiya, we know chairman job is to sit on the chair and sign papers lah.

    Posted 8 years ago by Yong Yeok Fong · Reply

  • Was the transfer instrument signed by the Chairman himself or by the land owner's attorney pursuant to the PA? Was there no resolution passed by the owner's board of directors and members authorising the transfer? If so, then everybody was aware of the transfer. If not, was the transfer legally binding on the owner/transferor?



    Posted 8 years ago by Conscience Moral · Reply

  • Hang the traitor of FELDA

    Posted 8 years ago by Chris Ng · Reply