KUALA LUMPUR, September 29 2026, The former chief executive officer of FELDA Investment Corporation Sdn Bhd (FIC), Mohd Zaid Abdul Jalil, was charged in the Sessions Court today with two counts of allegedly deceiving the company’s board of directors in 2014.
The charges involve the appointment of a company for a proposed commercial development project and the reported market value of 24 parcels of FELDA-owned land in Kuala Lumpur.
Mohd Zaid, 55, pleaded not guilty to both charges and claimed trial after they were read before Judge Rosli Ahmad.
For the first charge, he is accused of misleading the FIC board into believing that Synergy Promenade Sdn Bhd was qualified to be appointed as the Project Delivery Partner–Master Developer for the proposed commercial development on FELDA lots in Jalan Semarak.
He allegedly knew the company was only qualified to serve as Project Delivery Partner–Master Planner.
The second charge alleges that Mohd Zaid misled the board over the market value of 24 FELDA-owned lots, claiming the valuation was RM330.96 million when he allegedly knew the reported figure was RM691.7 million.
The offences allegedly took place during FIC board meetings on Jan 16 and April 29, 2014, at Menara FELDA, Kuala Lumpur.
Mohd Zaid was charged under Section 417 of the Penal Code, which carries a maximum five-year jail term, a fine, or both upon conviction.
The prosecution proposed bail of RM50,000 for each charge, with one surety, monthly reporting to the Malaysian Anti-Corruption Commission and surrender of his passport.
-BERNAMA
