Former Felda Investment CEO charged with cheating board over RM500m Jalan Semarak land deal

A former CEO of Felda Investment Corporation Sdn Bhd, Zaid Abdul Jalil, was charged in the Kuala Lumpur Sessions Court with two counts of deceiving the company's board regarding a 2014 commercial development project.

Zaid allegedly misled the board about the qualifications of the developer and the property's market valuation, resulting in wrongful board decisions.

He pleaded not guilty, and the court set bail at RM60,000 with conditional requirements.

The case is scheduled for mention on October 29.

KUALA LUMPUR, Sept 29 — A former chief executive officer of Felda Investment Corporation Sdn Bhd (FIC) was charged in the Sessions Court here today with two counts of deceiving the company’s board of directors over the commercial development of Felda land along Jalan Semarak in 2014.

Zaid Abdul Jalil, 56, pleaded not guilty and claimed trial to both charges after they were read out before Sessions Court Judge Rosli Ahmad, FMT reported.

On the first count, Zaid is accused of deceiving the FIC board into believing that Synergy Promenade Sdn Bhd was qualified for appointment as the project’s master developer, despite knowing the company was only eligible to serve as its master planner.

By misleading the board, he allegedly induced them into approving Synergy Promenade's appointment as the project's master developer during a meeting at Menara Felda on Jan 16, 2014.

On the second count, Zaid is accused of deceiving the FIC board regarding the commercial valuation of 24 lots of Felda land by misrepresenting that a market assessment by Firdaus & Associates Property Professionals Sdn Bhd valued the development at RM330.96 million, when the valuer's actual reported assessment was RM691.7 million.

He is further alleged to have falsely informed the board that the 24 parcels had an indicative value of RM180 million from the Valuation and Property Services Department (JPPH), when no such valuation had been provided.

Through these misrepresentations, Zaid allegedly induced the FIC board to accept an offer from Synergy Promenade featuring a proposed minimum guaranteed return of RM500 million or 10 per cent of the gross development value (GDV), whichever was higher.

The alleged offence was committed at Menara Felda on April 29, 2014.

Both charges were framed under Section 417 of the Penal Code for cheating, which carries a penalty of up to five years’ imprisonment, a fine, or both, upon conviction.

Deputy Public Prosecutor Radzi Shah Razak proposed bail at RM50,000 for each charge, along with conditions requiring Zaid to surrender his passport and report monthly to the Malaysian Anti-Corruption Commission (MACC).

In mitigation, defence counsel Shahrullah Khan appealed for a reduced bail of RM10,000 per charge, citing his client's financial constraints.

Shahrullah said that Zaid had cooperated fully with MACC throughout the investigation and had previously served as a prosecution witness in two major trials, including the graft case involving former Felda chairman Tan Sri Mohd Isa Abdul Samad.

Rosli granted bail at RM60,000 for both charges with one surety, ordered Zaid to surrender his passport to the court pending disposal of the case, and instructed him to report to the MACC office once a month.

The court fixed Oct 29 for case mention.

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Felda Investment Corporation Sdn Bhd 前首席执行官 Zaid Abdul Jalil 在吉隆坡地方法庭被控两项罪名，即在 2014 年的一个商业开发项目中欺骗公司董事会。

据称，Zaid 就开发商的资质和房产的市场估值误导了董事会，导致董事会做出了错误的决定。

他拒不不认罪，法庭准予他以6万令吉保释，并附加一些条件。

该案定于10月29日进行庭审。

吉隆坡，9月29日讯——Felda投资公司（FIC）前首席执行官今日在吉隆坡地方法庭被控两项罪名，即在2014年就Jalan Semarak沿线Felda土地的商业开发事宜欺骗公司董事会。

据 FMT 报道，56 岁的 Zaid Abdul Jalil 在地方法院法官 Rosli Ahmad 面前被宣读了两项指控后，拒不不认罪并要求审判。

第一项指控是，Zaid 被控欺骗 FIC 董事会，使其相信 Synergy Promenade Sdn Bhd 有资格被任命为该项目的总开发商，尽管他明知该公司只有资格担任总规划师。

据称，他通过误导董事会，诱使他们在 2014 年 1 月 16 日于 Menara Felda 举行的会议上批准 Synergy Promenade 被任命为该项目的总开发商。

第二项指控是，Zaid 被控在 FELDA 24 块土地的商业估值方面欺骗 FIC 董事会，谎称 Firdaus & Associates Property Professionals Sdn Bhd 的市场评估将该项目估值为 3.3096 亿令吉，而该估价师实际报告的评估值为 6.917 亿令吉。

他还被指控向董事会谎称，估价和物业服务局 (JPPH) 给出的 24 块地皮的指示性估价为 1.8 亿令吉，而实际上并没有提供这样的估价。

据称，扎伊德通过这些虚假陈述诱使FIC董事会接受Synergy Promenade的提议，该提议承诺最低保证回报为5亿令吉或总开发价值（GDV）的10%，以较高者为准。

据称，该犯罪行为发生在 2014 年 4 月 29 日，地点为 Menara Felda。

这两项指控均依据《刑法》第 417 条（欺诈罪）提出，该条规定，一经定罪，最高可判处五年监禁、罚款或两者并罚。

副检察官拉兹·沙阿·拉扎克建议对每项指控处以 5 万令吉的保释金，并附加条件，要求扎伊德交出护照，并每月向马来西亚反贪污委员会 (MACC) 报告。

辩护律师沙鲁拉·汗请求将每项指控的保释金降低至 10,000 令吉，理由是他的当事人经济拮据。

沙鲁拉表示，扎伊德在整个调查过程中都与反贪污委员会充分合作，此前曾在两起重大审判中担任控方证人，其中包括涉及前联邦土地发展局主席丹斯里莫哈末·伊萨·阿卜杜勒·萨马德的贪污案。

罗斯利准许扎伊德以6万令吉的保释金保释，并要求一名担保人，同时命令扎伊德在案件审理期间将护照交由法庭保管，并指示他每月向反贪污委员会办公室报到一次。

法院将案件开庭日期定为10月29日。

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