What was the initial value of the Felda land in question?

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Felda Reclaims Jalan Semarak Land Previously Valued at RM270 Million

The Federal Land Development Authority (Felda) has successfully regained possession of 16 lots of land located in Jalan Semarak. These parcels of land, initially transferred to Synergy Promenade Sdn Bhd for the development of the Kuala Lumpur Vertical City, were registered under Synergy Promenade's name following four sale-and-purchase agreements executed in 2015 and 2016. Felda confirmed the recovery of these 16 lots on March 8.
Land Ownership Dispute Resolved

The ownership of these Felda land lots became a public issue in December when a local newspaper reported that Felda faced the risk of losing land valued at RM270 million. This risk stemmed from a questionable transfer transaction concerning the development of the Kuala Lumpur Vertical City project.
Recovery Process and Status

Felda chairman Tan Sri Shahrir Abdul Samad stated that 17 lots in total were transferred to Synergy Promenade Sdn Bhd. However, only 16 of these lots were formally registered in the company's name. The successful repossession of these 16 lots was achieved through a series of processes and negotiations, culminating on March 8, with the land now being re-registered under Felda's name.
Cost of Land Recovery

Reports from the previous month indicated that Felda was expected to regain possession of the Jalan Semarak land from Synergy Promenade Sdn Bhd without incurring any costs. This suggests a resolution that did not involve a financial outlay for Felda to reclaim its assets.

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What was the initial value of the Felda land in question?

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