FELDA Chairman Tan Sri Shahrir Samad has announced that Synergy Promenade Sdn Bhd (SPSB) had returned all plots of land at Jalan Semarak’s Kuala Lumpur Vertucal City (KLVC) project to Felda at no cost.
The announcement by Shahrir falls short of a full answer and accountability of the fiasco.
The “culprit” in the whole Jalan Semarak Lands fiasco is the full Power of Attorney granted by FELDA to SPSB, which enabled SPSB to transfer the lands to itself without the sanction and knowledge of FELDA.
It is common practice that any Power of Attorney granted in joint venture development will always come with limited power and solely for the purpose of facilitating the application of all the approvals for development from the authorities. No Land proprietor will ever grant a full Power of Attorney to its Joint Venture Development’s Partner without its rights and interest being properly protected. However, the unfortunate situation has happened in FELDA’s Jalan Semarak KLVC project.
SPSB has made use of the Power of Attorney to transfer the Lands into its own name. What is the justification given by SPSB to explain the transfer of lands into its own name without the knowledge of FELDA, and for FELDA to continue consider SPSB as an “honest partner” despite all these happenings?
Shahrir has not mentioned the status of the said Power of Attorney in his Press Conference. Has the said Power of Attorney be revoked by the parties at the time when the so-called Agreement of Understanding (Perjanjian Persefahaman) between the parties for the return of the lands was made?
It will be another negligible act if FELDA has continued the KLVC joint venture project without revoking the full Power of Attorney granted to its deemed “honest partner” SPSB.