KUALA LUMPUR: Felda has set up a special committee to negotiate with Synergy Promenade Sdn Bhd (SPSB) on improvements to be made to the implementation of the development agreement on 16 plots of land in Jalan Semarak.
This, it said in a statement, was in the interests of both parties.
It said the committee would be chaired by Dr Yusof Ismail, who represents the Finance Ministry on the Felda board, and would include Datuk Nik Azman Nik Abdul Majid and Datuk Zainal Abidin, the representatives of the Prime Minister’s Department on its board.
“Felda will also request for the government to appoint a representative from the Public-Private Partnership Unit of the Prime Minister’s Department in the committee.
“The committee was set up following a memorandum of understanding signed between Felda and SPSB on Jan 15, 2018 where the developer had voluntarily agreed to return ownership of the 16 plots of land to Felda at no cost and had given the property titles to be registered under Felda’s name,” the statement read.
Berita Harian, in an exclusive report late last year, broke the story that Felda was at risk of losing ownership of the land worth more than RM200 million following what had been described as a “dubious deal” in 2015.
The plots of land, which had been earmarked for the Kuala Lumpur Vertical City (KLVC) development project, will feature seven towers.
The ownership transfer of the land took place when FIC Sdn Bhd appointed SPSB as its main developer on June 3, 2014, and granted the company full power of attorney to develop the land.
SPSB returned all plots of land involved to Felda on Jan 15, along with all documents related to the parcels of land alienated to the developer, at no cost.