FELDA’s Former Chairman, Isa Samad, Called in for Illegal Land Transaction at Jalan Semarak

December 28, 2017

 
The Royal Malaysia Police plans to interrogate former Federal Land Development Authority (FELDA) chairman Tan Sri Mohd Isa Samad regarding the RM270 million land transaction that occurred during his term.

According to Deputy Inspector-General Tan Sri Noor Rashid Ibrahim, they are investigating the case for alleged cheating under Section 420 of the Penal Code.

“We will call him as he is alleged to have vested interest in the investment process.”

So far, the cops have taken statements from five witnesses, including personnel from FELDA and the Land Office. They have also secured needed documents from the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia).

On 12 December, FELDA’s existing Chairman Tan Sri Shahrir Abdul Samad filed a police report regarding the land deal that took place during the tenure of his predecessor. It involved a transfer of ownership for a site at Jalan Semarak valued at RM270 million.

An unnamed source revealed that the allegedly anomalous transaction occurred when FELDA Investment Corporation gave full power of attorney to a local firm to act as the site’s main developer in June 2014.

The plot is intended for the Kuala Lumpur Vertical City (KLVC) project, which will consist of seven blocks. These include FELDA’s 59-storey KLVC Tower1A, which comes with a two-level office podium, a rooftop garden and a helipad.

 

Image sourced from The Malaysian Insight.

 

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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Gursharan Singh
Dec 28, 2017
Is the land valued at estimated RM1.0B or RM270.0M or RM200.0M? Giving different valuations can be confusing to public.
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