Ex-CEO of Felda investment arm charged over Jalan Semarak project
Zaid Abdul Jalil, the former CEO of Felda Investment Corporation, has been charged with two counts of cheating the board of directors regarding a 2014 land development project. He is accused of misrepresenting the eligibility of a developer and inflating property valuation figures.
Why it matters
This case highlights issues of corporate governance and corruption within state-linked investment entities, impacting public trust and financial accountability.
Former Felda Investment Corporation Sdn Bhd CEO Zaid Abdul Jalil is accused of deceiving the Felda unit’s board of directors in relation to a project at Jalan Semarak, Kuala Lumpur, in 2014.
KUALA LUMPUR: A former CEO of a Felda investment unit has been charged with deceiving the company’s board of directors in relation to the proposed commercial development of Felda land in a project at Jalan Semarak here in 2014.
Former Felda Investment Corporation Sdn Bhd (FIC) CEO Zaid Abdul Jalil pleaded not guilty in the sessions court here after two charges were read before judge Rosli Ahmad.
On the first charge, he is accused of deceiving the FIC board into believing that Synergy Promenade Sdn Bhd was eligible for appointment as the project’s master developer, when he knew the firm was only eligible to be the project’s master planner.
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