KUALA LUMPUR – March 9, 2018: This time Felda has finally regained the land on Jalan Semarak here it supposedly lost from a property development deal.
According to Felda chairman Tan Sri Shahrir Samad, the 16 plots of land were transferred back to Felda after the registrar and private caveats placed onto them were lifted last month.
On January 15, Felda announced that it had gotten back the land but it did a turnaround on February 8, explaining that what it had actually gained back then was something that inched Felda closer towards obtaining the land.
“If I am not mistaken both the registrar and private caveat have been lifted simultaneously last month to make way for this transfer,” said Shahrir at a press conference today.
In backing the announced Shahrir also showed the media the land ownership records which state that the land had been registered under Felda.
The two caveats were placed last year to stop the development of the Kuala Lumpur Vertical City (KLVC) project there. The KLVC master developer is Synergy Promenade Sdn. Bhd. (SPSB).
On December 21, the media reported that Felda was at risk of losing the rights to this strategic land, estimated to be worth RM200 million, as a result of four allegedly dubious sale and purchase transactions in December 2015 and November 2016.
The land transfer was believed to have occurred when Felda Investment Corporation Sdn. Bhd. gave SPSB a full power of attorney to develop KLVC.
“Now that we have gotten back the land Felda will renegotiate the terms and conditions of the KLVC project,” said Shahrir.
The cost of the land transfer including stamp duties was borne by SPSB as per the conditions stated in the Felda-SPSB memorandum of understanding signed on January 15.
When asked about the progress of Felda’s domestic inquiry over the KLVC deal, Shahrir said the board level committee had hired a law firm last week.
Additional reporting by Nadhirah Sofea