FELDA’s fortification from land being flogged off

FELDA made the move to to fortify’s their interest in the Kuala Lumpur Vertical City by making Police report on 12 Dec 2017, as part to get a Registrar’s Caveat on the 16 parcel of land with regards to the development agreement with Synergy Promenade Sdn Bhd. (SPSB)

FELDA Chairman Tan Sri Shahrir Abdul Samad said this when interviewed by The Mole earlier this morning at his office. The Registrar Caveat was placed on top of a Private Caveat, submitted in April 2017.

“I (FELDA) only wants the land back”

He also admitted that FELDA at this point of time is not rectifying the Development Agreement signed between FELDA Investment Corporation Sdn. Bhd. (FIC) and SPSB as the Master Developer on 3 June 2014.

Shahrir confirmed that FELDA Board endorsed the irrevocable Power of Attorney (PoA) agreement with SPSB in September 2014. SPSB applied for the Development Order (DO)  and obtained from DBKL in June 2015, upon the latter obtaining an irrevocable Power of Attorney.

“Why do you need the land when you already got the Development Order”, asked Shahrir.

He also said then FELDA Chairman and Director General signed four Sales and Purchase Agreement (SPA) to hive off the 16 land parcels in the said KLVC project, beginning December 2015 till end of 2016.

“Our concern is this. If the land has gone to the developer, where is our protection? What happens there is a change of ownership? Whose fault it would be?”.

It is most likely, SPSB needed the land to be transferred with their name as the new land owner in order to gain financing for the project.

It is the regular practice that financial institutions encumber land as part of the condition to give finance to a property development project.

“It is a land grab!”

He also added, “You don’t tell us anything. You don’t inform us anything anything. With the unlimited PoA, you are supposed to develop that land”.

In June 2015, the Malaysian economy was a more declined state compared to when SPSB obtained the irrevocable Power of Attorney. It was after global oil price plummeted from over USD100 per barrel to slightly over USD20 per barrel.

In such challenging situation, it is unlikely SPSB would able to raise financing through investments.

“Without ownership the land, they already got the DO. The protection is still on the land”.

It gives the indirect suggestion that SPSB with the ownership of said 16 parcels of land or any of the said parcels could be transferred to another party by SPSB and FELDA had no control over that deal.

A company with an irrevocable PoA and DO, could be flipped for a very lucrative consideration.

Furthermore, with land ownership such as the prized 16 parcels of land in Jalan Semarak off Jalan Tun Razak area, which is a stone’s throw from the CBD and KLCC, is very good catch.

The nation was shocked with the Berita Harian headline on 21 December 2017.

Pindah milik tanah FELDA Jalan Semarak dicurigai

FELDA berisiko kehilangan hak ke atas tanah strategik di Jalan Semarak. – Foto Aizuddin Saad

Kuala Lumpur: FELDA berisiko kehilangan hak ke atas tanah strategik di Jalan Semarak di sini, yang dianggarkan bernilai lebih RM200 juta apabila ia dipercayai bertukar hak milik menerusi transaksi diragui sejak 2015.

Tanah itu kini dimajukan dengan projek Kuala Lumpur Vertical City (KLVC) membabitkan tujuh menara, termasuk menara ikonik FELDA dikenali sebagai KLVC Tower1A.

Carian dalam portal Dewan Bandaraya Kuala Lumpur (DBKL) mendapati Menara KLVC Tower1A sudah diluluskan untuk dimajukan dengan bangunan pejabat 68 tingkat meliputi 59 tingkat pejabat, dua tingkat podium pejabat termasuk parkir, enam tingkat tempat letak kereta, dua tingkat parkir bawah tanah, taman atas bumbung dan helipad.

Sumber memberitahu BH, pindah milik tanah itu dipercayai berlaku apabila Felda Investment Cor-poration Sdn Bhd (FIC) melantik sebuah syarikat tempatan sebagai pemaju utama pada 3 Jun 2014 dan diberikan surat kuasa wakil penuh (full power of attorney) bagi membangunkannya.

Tan Sri Mohd Isa Abdul Samad adalah Pengerusi Felda dari 2011 hingga Januari 2017; Pengerusi Felda Global Ventures Holdings Bhd (FGV) mulai 1 Januari 2011 hingga 19 Jun lalu dan Pengerusi FIC sejak ditubuhkan pada 2 Julai 2013 sehingga 2017.

TAPAK projek pembangunan Kuala Lumpur Vertical City (KLVC) di Jalan Semarak, Kuala Lumpur. – Foto Aizuddin Saad

Urus tadbir mengelirukan

Menurut sumber itu, semua keputusan pelantikan syarikat terbabit, dipercayai dibuat oleh FIC, tetapi hanya dimaklumkan kepada Lembaga Pengarah FELDA tiga bulan kemudian, iaitu pada 2 September 2014 untuk kelulusan secara retrospektif.

“Ia agak mengelirukan dari segi urus tadbir kerana Lembaga Pengarah FELDA tak tahu siapa sebenarnya buat keputusan, sama ada FIC atau FELDA kerana ketika itu ada orang yang sama duduk dalam FIC dan dalam FELDA.

“FELDA keluarkan surat kuasa wakil kepada syarikat pemaju untuk bangunkan kawasan terbabit, namun tanah berkenaan kemudian didapati dipindah milik kepada syarikat itu sejak Disember 2015,” katanya.

Carian BH di Jabatan Tanah dan Galian Wilayah Persekutuan Kuala Lumpur juga mendapati satu daripada tanah iaitu lot 390 seluas 16 hektar yang sebelum ini menempatkan ibu pejabat lama FELDA, Anjung FELDA dan Wisma FELDA ditukar nama kepada sebuah syarikat lain yang ada kaitan dengan pemaju utama projek itu pada 21 Julai 2016.

TAPAK projek pembangunan Kuala Lumpur Vertical City (KLVC) di Jalan Semarak, Kuala Lumpur. – Foto Aizuddin Saad

Difahamkan, sehingga kini tiada pengumuman dikeluarkan FELDA berhubung pemindahan hak milik tanah itu atau transaksi pengambilalihan tanah antara FELDA dengan pemilik baharu tanah itu.

BH turut bertemu pemaju itu di pejabatnya untuk mendapatkan penjelasan lanjut, tetapi seorang pengarah syarikat terbabit enggan memberi sebarang komen.

Mengikut laporan media pada 14 Mei 2014, kawasan itu mulanya dirancang dimajukan sebagai projek pembangunan bercampur komersial dan kediaman dengan nilai pembangunan kasar (GDV) melebihi RM500 juta oleh anak syarikat FIC, iaitu ENCORP Bhd.

Namun, pada 6 November 2014, DBKL menerima permohonan kebenaran merancang kawasan sama daripada pemaju utama KLVC dan bukan ENCORP.

Semakan di Suruhanjaya Syarikat Malaysia (SSM) juga mendapati kontraktor utama projek KLVC adalah sebuah syarikat baharu yang hanya ditubuhkan Januari lalu.

****************

 

Shahrir said at this point of time, they are not seeking to redress the Development Agreement which SPSB is required to cough up RM500 million or 10% of the Gross Development Value (GDV) of the said project.

He seemed not in discomfort of the public perception of the whole matter and only focused on retaining or recovering FELDA ownership on the 16 land parcels.

FELDA announced a forensic audit would be carried out and a report would be issued by the same accounting within 30 days, on top of the Police report made.

 

 

 

 

Published in: on January 15, 2018 at 23:59  Leave a Comment  

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