KUALA LUMPUR, March 9 ― The Federal Land Development Authority (Felda) today confirmed that it had regained possession of all its 16 lots of land in Jalan Semarak that had been transferred to a company for development of the Kuala Lumpur Vertical City.

Felda chairman Tan Sri Shahrir Abdul Samad said 17 lots of land had been transferred to the company, Synergy Promenade Sdn Bhd, through four sale-and-purchase agreements in 2015 and 2016 but only 16 lots were registered in the name of SPSB.

 "The 16 lots were registered on various dates. Finally, after various processes and negotiations up to yesterday (March 8), we have been able to get back the lots in the Felda name,” he said at a press conference at Menara Felda here.

The issue over the ownership of the Felda land erupted last December after a local newspaper revealed that Felda was at risk of losing its land valued at RM270 million for the development of KLVC through a dubious transfer transaction from 2015.

It was reported last month that Felda would regain possession of the land from SPSB without cost. ― Bernama