The Jalan Semarak land which was transferred to a local company has been returned to the Federal Land Development Authority (Felda).
The developer of the project has agreed to return the ownership of all the 16 lots to Felda without any cost, according to Felda chairman Tan Sri Shahrir Abdul Samad.
Speaking at a press conference at Menara Felda in Kuala Lumpur today, Shahrir said all relevant documents will be returned to be registered under Felda’s name.
However, Shahrir said the agency has no intention to retract the police report lodged on Dec 12 and Dec 17 last year.
The case is being investigated under Section 420 and Section 471 of the Penal Code for cheating and forgery.
“The ongoing forensic audit will also be continued to identify if there is any mismanagement in the transaction,” he said.
Investigation papers on the transfer of the Jalan Semarak land are expected to be submitted to the Attorney-General’s Chamber by the end of this week.
Last week, Tan Sri Mohd Isa Abdul Samad, who was Felda chairman from 2011 to January 2017, had his statement recorded over the matter.
It was reported on Dec 21 that Felda was at risk of losing ownership of the Jalan Semarak land, estimated to be worth RM200 million, when it was transferred through an allegedly “dubious deal” in 2015.
The land transfer was believed to have occurred when the Felda Investment Corporation appointed a local company as the primary developer on June 3, 2014, and it was given full power of attorney to develop the land.
The project is being developed by Synergy Promenade Sdn Bhd (SPSB).
The plot of land, which had been earmarked for the Kuala Lumpur Vertical City (KLVC) development project, will feature seven towers, including Felda’s iconic tower, to be known as KLVC Tower 1A.
Shahrir said the KLVC project will proceed as the land has already received approval for development. Felda, he said, will negotiate with Synergy Promenade to improve the terms and agreement of the project development.