Former Felda Investment CEO charged with cheating board over RM500m Jalan Semarak land deal
KUALA LUMPUR, Sept 29 — A former chief executive officer of Felda Investment Corporation Sdn Bhd (FIC) was charged...
Former Felda Investment CEO Zaid Abdul Jalil has been charged with deceiving the company's board over a RM500 million land deal in 2014. Zaid is accused of misleading the board into believing that Synergy Promenade Sdn Bhd was qualified to serve as the project's master developer, despite knowing the company was only eligible to serve as its master planner.
He is also accused of misrepresenting the commercial valuation of 24 lots of Felda land, leading the board to accept an offer with a minimum guaranteed return of RM500 million. Zaid pleaded not guilty to both charges and was granted bail at RM60,000 with conditions, including surrendering his passport and monthly reporting to the Malaysian Anti-Corruption Commission.
Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
