KUALA LUMPUR: The forensic audit on the Kuala Lumpur Vertical City (KLVC) project has concluded on a possible misrepresentation and criminal breach of trust by the previous board members of Felda and Felda Investment Corp Sdn Bhd (FIC).
In a media briefing here tonight, Federal Land Development Authority (Felda) chairman Tan Sri Shahrir Samad said the 501-page forensic audit on the KLVC highlighted possible elements of misrepresentation and criminal breach of trust.
He said it involved previous board members of Felda and FIC as well as those at management level during the critical period of June 2014 to September 2014.
Following recommendation by Prime Minister Department that legal and disciplinary actions be taken concerning the KLVC project Shahrir said Felda board members have today set up an ‘Investigation Committee on KLVC project’.
This Felda board committee is chaired by Datuk Ahmad Kushairi Din, who is also Malaysian Palm Oil Board (MPOB) director general.
“Datuk Kushairi and other committee members will appoint a legal firm to carry out a legal review on the development agreement between Felda and KLVC developer Synergy Promenade Sdn Bhd (SPSB). The legal review will take three months,” Shahrir said.
On the forensic audit concerning 240 documents within the possession of Felda and FIC, Shahrir said the police are still investigating the matter.
Shahrir then said he presumed the police would or have called up two directors of Synergy Promenade, for questioning on possible wrongful acts concerning the KLVC project.
“Please remember that disciplinary actions can only be taken on those who are being employed by Felda Group of Companies.
“As for previous board members of Felda and FIC who are deemed to have done wrong, they would face civil legal actions,” he added.
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 KLVC development project, will feature seven towers.
The ownership transfer of the land took place when FIC 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.