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, 56, was charged in court today with two counts of deceiving the company's board over an RM500m land deal in Jalan Semarak in 2014. Zaid, pleading not guilty, claimed trial to both charges after they were read out by Sessions Court Judge Rosli Ahmad. In the first charge, he is accused of misleading the board into believing that Synergy Promenade Sdn Bhd was qualified to be the project's master developer, when in reality they were only eligible as a master planner.
In the second charge, Zaid is accused of misrepresenting the commercial valuation of 24 lots of Felda land, claiming a market assessment valued the development at RM330.96 million when the actual assessment was RM691.7 million. Both charges, under Section 417 of the Penal Code, carry up to five years' imprisonment, a fine, or both upon conviction. The court fixed October 29 for case mention.
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- Ex-FIC CEO pleads not guilty to two charges over Felda land deal nst.com.my
- HTF30 report does not alter FELDA board’s fiduciary responsibility thevibes.com
- Ex-CEO of Felda investment arm charged over Jalan Semarak project freemalaysiatoday.com
- Former Felda Investment CEO charged with cheating board over RM500m Jalan Semarak land deal malaymail.com
- Felda investment arm ex-CEO charged with deceiving board of directors malaysiakini.com
