Bekas CEO FIC didakwa perdaya lembaga pengarah berkait projek Jalan Semarak

Zaid Abdul Jalil, the former CEO of Felda Investment Corporation Sdn Bhd (FIC), was accused of exerting influence over the company's board during a 2014 development project in Jalan Semarak, Kuala Lumpur. The Malaysian court found him not guilty after two charges were presented to Judge Rosli Ahmad. The first charge alleged that Zaid coerced the FIC board to accept Synergy Promenade Sdn Bhd as the promoter of the relevant project, despite knowing they were only fit to act as the master planners.

This action allegedly led the FIC board to appoint Synergy Promenade as the master promoter. The second charge claimed that Zaid influenced the FIC board by stating a market valuation of RM330.96 million for the 24 commercial lots in the Felda land, while Firdaus & Associates Property Professionals Sdn Bhd reported the actual amount as RM691.7 million.

He was also accused of convincing the FIC board to trust the 24 lots would be worth RM180 million, despite the Land Valuation and Services Department never providing such an indicative valuation. Both charges were made under Section 417 of the Penal Code, which covers fraud and carries a penalty of up to five years in prison, a fine, or both if found guilty.