Tuesday, January 16, 2018

FELDA-Synergy Promenade scandal: Where did FELDA find the BILLIONS needed to repay Semarak land loans?

by Ganesh Sahathevan


While FELDA chairman Tan Sri Shahrir Abdul Samad has declared that "Felda has successfully recovered ownership of 16 strategic plots of land worth an estimated RM 200 million along Jalan Semarak", left unsaid is the cost.


The land has been re-assigned by FELDA's JV partner Synergy Promenade.Synergy had been provided a power of attorney over that land in order to finance the project.The land must therefore have been provided as security for a loan or loans, and the money raised has clearly been spent;the project, as the photo above shows, is well and truly underway.

The project is said to have a Gross Development Value of about RM 5 Billion, and even half of that comes to RM 2.5 Billion.
Returning the land to FELDA would have required that money to be repaid, but Shahrir is not saying where the CASH to do so came from. And then there is the matter of compensation........
END 

REFERENCE

uesday, January 9, 2018


FELDA :Rocky Atan is right, "Lim Sian See" is wrong, and the Badawi controlled Najib PR team continues to undermine Najib

by Ganesh Sahathevan



KLVC IS A JOINT VENTURE.FROM WHAT IS KNOWN PUBLICLY IT APPEARS TO BE A
CONTRACTUAL JOINT VENTURE.


It has been previously reported on this blog that Malaysian PM  Najib Razak's very own PR team appears to be acting against him, under the direction of his predecessor Tun Abdullah Badawi.
Readers will recall that that report relied on stories written by Najib man Peter Kamaruddin aka RPK.

The current Felda land "scandal" seems to be yet another attempt to undermine Najib by his own team, this time by none other than "Lim Sian See". Lim's "investigation"  led to a story in the UMNO controlled Berita Harian,and consequently what has become a full blown "scandal".

However ,Najib loyalist Rocky Atan has been at pains to point out  that there is no scandal, that nothing has been lost,despite "Lim Sian See's" claims.

Reproduced below is Rocky's defense of the deal, and the most important bit is that photo of the ON-GOING development ,at the end of his stories.An enlarged copy of the photo has been reproduced above,and enlarged.As readers can see for themselves in the bottom left of the photo, the project is a joint venture between the developer, Synergy Promenade Sdn Bhd,and Felda Investment Corporation.
That fact has been made painfully obvious, so it is hard to see how anyone could literally steal Felda and Government land, as "Sian See" suggests.

As the New Straits Times itself has reported, the real estate in question was sold into the JV at a value of RM 270 million. Some insist that the land is worth closer to a billion , but bear in mind that this is a JV,and Felda continues to have rights over the value of the project. Those rights are independent of any ownership of the land.Anyone can understand that ,so Najib needs to ask himself why his own team is putting him in a position where he has to justify a normal commercial deal.





Monday, January 08, 2018


Ah, Felda did not lose its land after all, Part 2: Forensic audit starts today

Having to clean up after his own people's mess, yet again

“As such, reports saying that the land has been lost are incorrect." - PM Najib Razak, KLVC project on Felda land: External audit appointed, Jan 4

TWO CABINET ministers have spoken out on the Felda's Jalan Semarak land issue in support of the Prime Minister's press statement last Thursday. Hishammuddin Hussein said we should let the investigation proceed as we don't want too see anyone get punished in the media and social media (Don't be quick to judge Felda land issue, Jan 6). Azalina Aziz also downplayed allegations that Felda had "lost" the land. "The land ownership issue is more a business matter." (Felda land deal just a business matter, Jan 6). 

The Minister in the PM's Department went on to say she believed the issue would not affect the support of Felda voters "because it was brought up by the chairman himself, which means he will find a solution to this problem"

But with all due respect, the chairman, Shahrir Samad, may have become part of "this problem". Since the day BH broke the story ["Felda hilang hakmilik tanah Jalan Semarak"], Shahrir himself has been caught many times lamenting the "lost" land. (herehere and here just to link a few) and finding fault with his predecessor Isa Samad and the developer of KLVC, Synergy Promenade (which also owns the land by virtue of a land transfer done by FIC in 2014 when Isa was chairman of Felda as well as FIC). 

Will he sing a different tune this afternoon when he meets the Felda staff at a town hall meeting?

If there was going to be a solution to the problem, all parties involved should have sat down together and dealt with it like professionals instead of using the media to sensationalise the issue the way it did. But now, if you ask me, the damage is done. And the biggest victim is Najib Razak himself. 

And with the general election right around the corner, you've got to wonder what those guys around the PM and behind the so-called Semarak exposé were thinking of ...


p.s. And all this while, the developers of Semarak land have not said a single word. Do they even exist?



Thursday, January 04, 2018


Ah, Felda did not lose its Samarak land after all!


The following is a press statement issued a while ago by PM Najib Razak on the Semarak scandal, the story that the Najib-friendly Berita Harian broke two weeks ago (Dec 21).

The salient points:
Para 7:
The PM says report(s) that claimed the Felda land in Semarak had been lost were inaccurate.
Para 4&5:
The PM had directed Felda on Dec 11, 10 days before the BH broke the story  to:
(a) determine if there was abuse of power or/and corruption in the procedures for KL Vertical City, the ongoing project on the Felda Semarak land and
(b) lodge a police report

Kenyataan Media  

1. Sebuah firma audit luar telah pun dilantik oleh Jabatan Perdana Menteri (JPM) untuk melaksanakan audit forensik ke atas projek Kuala Lumpur Vertical City (KLVC) yang sedang dibangunkan oleh Synergy Promenade Sdn Bhd (SPSB) atas tanah milik FELDA. 

2. Firma audit ini akan menjalankan audit forensik ke atas semua aktiviti, keputusan dan tindakan berkaitan dengan projek ini. Ianya juga akan menilai semula proses pengawalan yang berkaitan, termasuk kelemahan dalam pentadbiran dalaman serta pengawasan FELDA ke atas FELDA Investment Corporation Sdn Bhd (FIC). 

3. Siasatan firma audit ini juga akan membabitkan Pejabat Tanah dan Galian Wilayah Persekutuan Kuala Lumpur dan Dewan Bandaraya Kuala Lumpur (DBKL). Siasatan firma audit ini dijangka akan siap dalam tempoh 30 hari dan  laporan penuh akan dikemukakan kepada JPM. 

4. Pelantikan firma audit ini adalah susulan arahan saya kepada FELDA dalam satu surat bertarikh 11 Disember 2017, untuk menentukan sama ada berlakunya ketidakpatuhan kepada tatacara sedia ada atau berlakunya unsur-unsur salah guna kuasa dan perlakuan rasuah berkaitan projek KLVC. 

5. Dalam surat tersebut yang dihantar oleh JPM kepada Pengerusi FELDA, Tan Sri Shahrir Abdul Samad,  saya juga telah mengarahkan FELDA untuk membuat laporan polis terhadap SPSB untuk "criminal fraud" serta mengambil tindakan undang-undang untuk "civil fraud" bagi pemindahan hak milik tanah FELDA tanpa pengetahuan dan kebenaran. 

6. Saya telah mengarahkan tindakan-tindakan ini diambil bagi melindungi kepentingan FELDA dan peneroka, tidak dikompromi dan bagi memastikan tanah-tanah tersebut terus kekal menjadi milik FELDA. 

7. Pihak polis juga telah menjalankan siasatan dan tanah-tanah terlibat telah turut dikaveat. Oleh itu, laporan yang mengatakan tanah-tanah itu sudah hilang adalah tidak tepat. Kaveat Pendaftar yang telah dikenakan ke atas tanah-tanah itu akan memastikan kepentingan Felda dilindungi. 

8. Tindakan undang-undang akan diambil jika siasatan firma audit luar dan polis menunjukkan adanya salah laku oleh mereka yang terbabit dalam projek ini yang telah dipersetujui pada tahun 2014. 

Putrajaya

4 Januari 2018

The MACC has ruled OUT any element of corruption in the deal between FIC and Synergy Promenade (No elements of graft in Felda land transfer, says MACC - Dec 21) so we are looking at other "elements", if anything at all. Refer to Para 8: IF the audit firm and the police find any form of misappropriation, the Government will take legal action.

What if the audit firm and the police don't find anything?

What if the deal wasn't "dubious" as reported?

And what happens to KLVC, does the project stop now?

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