IF Kuala Lumpur Vertical City (KLVC) is built on Felda land, the government agency would not get back the land title, PKR vice-president Rafizi Ramli said.

He said since developers Synergy Promenade Sdn Bhd (SPSB) owned the land, they would convert it to strata titles for property owners, which would leave Felda with no land.

“The land title is given back to Felda, giving the impression that the land is back. Go to hell, the land is gone!

“They (Felda) gave the land to the developers to build multi-storey buildings and condominiums. In a few years, the land titles cease to exist and are superseded by the strata titles,” Rafizi told The Malaysian Insight today.

The Pandan lawmaker also said if SPSB gives back the documents to Felda, it would be resubmitted to the land office.

Rafizi said this would have complications as SPSB or either Felda has taken out a loan for the land from the bank.

“Even if they (SPSB) gave the documents back to Felda, the land office would need to relook the documents (to determine) whether the land has been pledged for a loan or financial facilities.

“I suspect the land has been pledged for a loan. That’s why Felda is keeping mum.”

Rafizi added it was “illogical” for Felda to transfer back the land as it would incur a couple of millions on stamp duty costs.

Felda chairman Shahrir Abdul Samad yesterday said Felda will get back all 17 land lots transferred to SPSB two years ago.

Shahrir also denied the land had been sold to SPSB, which is developing KLVC project on the land.

On Tuesday, Rafizi said the land is “gone forever” as it was sold to Synergy Promenade when construction of KLVC commenced.

Rafizi said that since approval has been given for the construction of KLVC on the land, the owners are the developer and the buyers of the individual units that had been built on the land.

Rafizi said only a portion of the land would be returned to Felda.

The plots of land, worth RM270 million, were transferred to a private company in a dubious transaction in 2015.

Following a flurry of police reports and government assurances of an investigation, SPSB said last week it would return ownership of the land to Felda at no cost.

Shahrir said that the KLVC project will continue but Felda will renegotiate the terms and conditions with the developer. – January 25, 2018.