Ex-CEO of Felda investment arm charged over Jalan Semarak project
Zaid Abdul Jalil claims trial to two charges of deceiving FIC’s board of directors over the 2014 project’s master developer appointment and evaluation.
Zaid Abdul Jalil, the former CEO of Felda Investment Corporation Sdn Bhd, has been charged with deceiving the company's board of directors in connection with a commercial development project at Jalan Semarak, Kuala Lumpur. The charges were brought by prosecutors two years after the alleged incidents occurred. Zaid is accused of presenting a false case to the board, leading them to believe that Synergy Promenade Sdn Bhd was eligible to be appointed as the master developer for the project, when in reality, they were only eligible as the master planners.
This deception allegedly resulted in the board approving Synergy Promenade's appointment, which led to further misrepresentations of the project's market value and valuation.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
