LAND ESTIMATED AT RM 1BILLION SOLD FOR RM270MILLION
What happened to Felda’s land on Jalan Semarak?
A motorist passing by the Kuala Lumpur Vertical City (KLVC) development in Jalan Semarak, Kuala Lumpur on December 24. Felda is at risk of losing ownership of the land worth RM270 million due to a dubious ownership transfer. – The Malaysian Insight pic by Nazir Sufari, December 27, 2017.1. What happened?
LAST Thursday, pro-government newspaper Berita Harian revealed that the ownership of 66,000 sq m of Felda land in Jalan Semarak, Kuala Lumpur was believed to have been transferred via a dubious transaction in 2015.
According to the report, Felda, which has not received any money from the transfer, risks losing ownership of the land which is estimated to be worth RM270 million.
The dubious ownership transfer transaction involved seven towers, including the iconic Felda tower being developed by Kuala Lumpur Vertical City (KLVC).
The newspaper conducted a check at the Dewan Bandaraya Kuala Lumpur (DBKL) website, and discovered that the iconic Felda tower has been approved for construction.
Two days later, Berita Harian reported that the current value of the land in Jalan Semarak, which has been earmarked for joint development by KLVC, is worth an estimated RM1 billion.
The figure far surpasses the sale price of RM270 million in four sales-and-purchase agreements between Felda and Synergy Promenade Sdn Bhd, developers for KLVC.
Umran Suffian Husin, a senior executive at a property valuation firm, said land along Jalan Gurney, Jalan Maktab and Jalan Semarak, where the the four parcels of land are located, are valued at RM1,300 to RM1,600 per square feet (psf).
“This is a rough estimation based on the value of property in the area. The final price would depend on the land size, the use it is zoned for, and the actual location,” the Malay daily quoted Umran saying.
Berita Harian had claimed that a KLVC source said the land was worth RM1,950psf and that foreign companies were also interested in the land parcels.
The land transfer was made while veteran Umno leader Isa Samad was Felda chairman. Felda is now headed by Johor Baru MP Shahrir Samad.
Felda chairman Shahrir Samad has filed a police report on the dubious transfer of land worth more than RM270 million, which Felda risks losing ownership of. – The Malaysian Insight file pic, December 27, 2017.2. Who got the land?
The Felda land on Jalan Semarak is now owned by Synergy Promenade Sdn Bhd, KLVC’s developer.
A check at the Registrar of Companies (RoC) showed that Synergy Promenade Sdn Bhd, located at No 16, Jalan Kota Raja M 27/M, Hicom Town Centre, Seksyen 27, 40400, Shah Alam, Selangor is owned by businessman Abdul Rahman Soltan dan his sister Noraini Soltan.
3. What is the status of the land?
According to legal expert Salleh Buang, Malaysian land laws prescribe that an individual who is registered officially as the owner of a plot of land will enjoy ownership rights under the principle of indefeasibility – Section 340(1) of the National Land Act 1965.
However, Salleh said that if elements of unreasonable influence or cheating was present during the process of ownership transfer, the individual’s ownership can be disputed in court.
He said any challenges to the transfer must be made before the land is transferred to a third party.
According to Salleh, if the land is transferred to a third party (a bona fide purchaser, BFP), the action of challenging or questioning the original transfer will be made void.
4. What is the reaction of the authorities?
Astro Awani reported that the Malaysian Anti Corruption Commission (MACC) found no element of bribery or abuse of power in the property transfer of the Jalan Semarak land.
MACC deputy chief commissioner (Operations) Azam Baki said the matter was due to management weaknesses and is under the purview of police investigations.
Deputy police chief Noor Rashid Ibrahim said a special police force has been formed to investigate the case of the “missing” Felda land.
He said police have not dismissed the possibility of calling in former Felda chairman Isa for questioning.
Isa told the media he is willing to assist in investigations, but until now, has yet to be called up by the police.
The dubious transfer took place during former Felda chairman Isa Samad's (centre) tenure. The MACC is considering to call Isa in for questioning. – The Malaysian Insight file pic, December 27, 2017.5. What is Pakatan Harapan’s (PH) reaction?
PKR vice-president Nurul Izzah Anwar has urged Putrajaya to stop the drama and to take immediate action against those who have caused Felda to lose the land.
Nurul Izzah said Prime Minister Najib Razak must take immediate steps to reveal the depth of scandals plaguing Felda.
Bersatu supreme council member Zahid Mat Arip said the issue is being used to distract the people from the larger 1Malaysia Development Berhad (1MDB) scandal.
Zahid, who was formerly a special officer to Isa, said he was confident that his former boss was being made the “black sheep” by Umno ahead of the 14th general election.
6. What is the reaction of Felda settlers?
Persatuan Anak Peneroka Felda Kebangaan (Anak) had urged Najib to take action as he hired Isa as Felda chairman.
Anak president Mazlan Aliman said that Najib insisted on appointing Isa as Felda chairman in 2011 in spite of objections from many quarters.
“The concept of joint responsibility, meaning Isa alone should not be held responsible. I’m sorry, Najib, you have to be responsible for the biggest disaster to hit Felda!”
Critics say Prime Minister Najib Razak should bear joint responsibility as he hired Isa Samad as Felda chairman. – The Malaysian Insight file pic, December 27, 2017.7. What is the reaction of BN?
Umno youth vice-president Khairul Azwan Harun said the movement has placed full confidence in the police to conduct investigations.
Umno supreme council member Mohd Puad Zarkashi slammed the opposition for trying to link Najib to the Felda land issue.
He said the prime minister had already instructed for the matter to be resolved with a forensic audit conducted by an external audit team.
"So the opposition shouldn’t try to act like heroes and point fingers to blame the prime minister.
“They should urge Penang Chief Minister Lim Guan Eng and Selangor Menteri Besar Mohamed Azmin Ali to resign because of the administrative scandals in their states,” he said.
Umno youth exco Nazir Hussin Akhtar Hussin said Felda’s board of directors has to be held responsible over the issue.
He said it was unfair to involve Najib in the issue as Felda has its own management organisation to make decisions.
8. Unanswered questions
a) How could Felda hand over the power of attorney (PA) to a developing company to develop the land, leading to the transfer of the land to that company?
b) Who are the individuals behind this transaction?
c) How did land belonging to a government agency be transferred to the hands of a private corporation without any payment, when the transaction had to go through several other government agencies before it was approved? – December 27, 2017.
https://www.themalaysianinsight.com/s/29541/
