00:02The former chief executive of Felda Investment Corporation has claimed trial to two counts of cheating the company's board of
00:10directors.
00:1155-year-old Muhammad Zayed Abdul Jalil pleaded not guilty before Sessions Court Judge Rosli Ahmad in Kuala Lumpur on
00:19Tuesday.
00:20The first charge alleges he misled the board into believing Synergy Promenade Sendirian Berhad was eligible to be appointed Project
00:28Delivery Partner Master Developer for a commercial project on Felda Land in Jalan Semarak, when the company was only eligible
00:36to be the master planner.
00:38The offence allegedly took place at a board meeting at Menara Felda on January 16, 2014.
00:45The second charge alleges he told the board that the market value of 24 plots of Felda Land was RM330
00:53.96 million, when the appraiser's actual valuation was RM691.7 million.
01:01He is also accused of claiming the Valuation and Property Services Department had valued the land at RM180 million, when
01:10no such valuation was given.
01:12That allegedly led the board to accept Synergy Promenade's offer, which included a minimum guaranteed return of RM500 million, or
01:2210% of gross development value, whichever is higher.
01:26This offence allegedly took place on April 29, 2014.
01:31He was charged under Section 417 of the Penal Code, which carries up to five years jail, a fine, or
01:38both.
01:39Deputy Public Prosecutor Mohamad Radzi Shah Abdul Razak proposed bail at RM50,000 in one surety for each charge.
01:48He also asked the court to impound the accused's passport and to report his attendance to the MACC office, pending
01:56the disposal of the case.
01:58However, lawyer Mohamad Shahrullah Khan Nawabzada, who represented Mohamad Zaid, pleaded for a lower bail amount at RM10,000 for
02:07each charge.
02:09He said his client has financial troubles and had cooperated throughout the investigation.
02:14The court fixed bail at RM60,000 in one surety for both charges and allowed the prosecution's application for additional
02:23bail conditions.
02:24The case is set for mention on October 29.
02:39The court fixed bail at RM50,000 in two surety for both charges and for charges to the MACC office,
02:39which is on the last note.
02:39The court fixed bail at RM50 if the bank have been used to settle at RM50,000 in one surety
02:39for other cases, not for charges and the persons who have been used to have covered in the survey.
