Felda Sues Isa Samad 20 Others Over Jalan Semarak Land

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(FMT) – The Federal Land Development Authority (Felda) and its subsidiary have filed suits against two former chairmen, Isa Samad and Shahrir Ab Samad, property development company Synergy Promenade Sdn Bhd (SPSB) and 18 others, seeking an order to immediately cancel 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 here through law firm Lee Hishammuddin Allen & Gledhill by naming the 21 as defendants.
Among those named as defendants were former Felda director-general Faizoull Ahmad; former FIC CEO Mohd Zaid Abdul Jalil; SPSB directors Abd Rahman Soltan and Noraini Soltan; SPSB and Synergy Promenade KLVC Sdn Bhd (SPKLVC); former Felda director-general Hanapi Suhada; former Felda director-general Ab Ghani Mohd Ali; former Felda Land director Shahrizal Mohd Saleh; and the Kuala Lumpur Federal Territory Land and Mines director.
In its writ of summons and statement of claim, Felda sought an order to direct the Federal Territory Land and Mines director to cancel all instruments of Semarak Felda land ownership transfer from the agency to SPSB and SPKLVC within 30 days of 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 (SPAs) and memorandum of understanding cannot be enforced, and are null and void.
In the suit, Felda and FIC demanded compensation from all defendants for the contravention of fiduciary duty borne against Felda, namely RM1.062 billion for the commercial value of the Semarak land which could be directly received from the sale of the land.
They also sought compensation in equity for commercial opportunity losses of RM562 million if Felda received a MGR of RM500 million from the development agreement, as well as compensation in equity on all costs and expenditure incurred to demolish the structure built by SPSB and return the land to its original condition.
The plaintiffs also sought compensation of RM1.5 billion for the overall rental liability under the rental agreement if it is not set aside, compensation of RM2.062 billion and compensation for the commercial value of 17 land lots which were purportedly sold under the four SPAs, and costs.
 

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