KUALA LUMPUR: The Federal Land Development Authority (Felda) and its subsidiary have filed suits against two former chairmen, Tan Sri Mohd Isa Abdul Samad and Tan Sri Shahrir Ab Samad, property development company Synergy Promenade Sdn Bhd (SPSB) and 18 others. The suit is aimed at canceling immediately all land ownership transfer instruments in Jalan Semarak.
Felda and Felda Investment Corporation Sdn Bhd (FIC) as plaintiffs, filed the suits through the High Court e-filing system via law firm Lee Hishammuddin Allen & Gledhill by naming the 21 as defendants.
Among those names as defendants were former Felda director-general Datuk Faizoull Ahmad; former FIC chief executive officer Mohd Zaid Abdul Jalil; SPSB directors Abd Rahman Soltan and Noraini Soltan; SPSB and Synergy Promenade KLVC Sdn Bhd (SPKLVC) ; former Felda director-general Datuk Hanapi Suhada; former Felda director-general Datuk Ab Ghani Mohd Ali; former Felda Land director Shahrizal Mohd Saleh; and the Kuala Lumpur Federal Territory Land and Mine director.
In its writ of summons and statement of claim, Felda sought an order to direct the Federal Territory Land and Mine director to cancel immediately all ownership transfers from SPSB to SPKLVC in 30 days from the issuance of the order.
The plaintiff also sought a declaration that the FIC Letter of Award, Felda Letter of Award, Development Agreement, Power of Attorney, Lease Agreement, four lease purchase agreements (SPA) and Memorandum of Understanding could not be enforced, and therefore null and void.
In the suit, Felda and FIC demanded compensations from all defendants for contravening the fiduciary duty borne against Felda. They are seeking a compensation of RM1.062 billion for the commercial value of the Semarak land which could be received directly from the sale of the land.
Also being sought are, compensations in equity for the commercial opportunity losses of RM562 million if Felda received a MGR of RM500 million from the Development Agreement.
They also sought compensation in equity on all costs and expenditure which would be incurred to demolish the structure built by SPSB and to return the land to its original condition.
Both the plaintiffs also sought a compensation of RM1.5 billion for the overall rental liability under the Rental Agreement if it was not set aside, compensation of RM2.062 billion other than seeking compensation for the commercial value of 17 land lots which were purportedly sold under the four SPA and costs. — Bernama