What is the estimated financial loss for Felda from the land deal?

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Felda Faces Estimated RM200 Million Loss from Suspicious Land Deal

Felda is facing a potential financial loss of at least RM200 million due to a questionable land transfer involving its investment arm, Felda Investment Corp (FIC). The land, located in Jalan Semarak, was transferred to a developer in 2015. The Malaysian police are actively investigating this "dubious" transaction, with former Felda chairman Tan Sri Isa Samad having already provided his statement to the authorities.
Police Investigation Underway

The Royal Malaysia Police have formed a special task force to investigate the transfer of the Jalan Semarak land. This investigation was initiated after Felda lodged a police report on December 12. Inspector-General of Police Tan Sri Mohamad Fuzi Harun confirmed that Tan Sri Isa Samad was interviewed and provided his statement at the Bukit Aman federal police headquarters. The police are also in the process of interviewing several other individuals connected to the case.
Land Transferred in 2015

The land in question was transferred from Felda Investment Corp (FIC), the agency's investment arm, to an unnamed developer in 2015. This transaction is now under scrutiny due to its suspicious nature and the significant financial implications for Felda. The estimated financial loss from this deal stands at a minimum of RM200 million.
Civil Action to Recover Land

In addition to the ongoing police investigation, Felda is pursuing legal avenues to reclaim the disputed property. The agency has announced its intention to launch a civil suit. This legal action aims to recover the land that was transferred under questionable circumstances.

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What is the estimated financial loss for Felda from the land deal?

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