Ex-FIC CEO pleads not guilty to two charges over Felda land deal
KUALA LUMPUR: Former Felda Investment Corporation Sdn Bhd (FIC) chief executive officer Mohd Zaid Abdul Jalil pleaded not guilty in the Sessions Court today to two charges of cheating the company’s board over a proposed commercial development of Felda land in Jalan Semarak.
Former Felda Investment Corporation Sdn Bhd (FIC) CEO Mohd Zaid Abdul Jalil has pleaded not guilty to two charges of cheating the company's board regarding a proposed commercial development of Felda land in Jalan Semarak. Zaid is accused of misleading the board into believing that Synergy Promenade Sdn Bhd was suitable to be appointed as the project's Project Delivery Partner-Master Developer, and of overstating the value of the Felda land by claiming it was worth RM330.96 million when the actual valuation was RM691.7 million. Both charges fall under Section 417 of the Penal Code.
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