Company awarded with 400ha forest reserve in Perak now has RM500,000 paid up capital

Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu holds a press conference in Ipoh February 13, 2019. — Picture by Farhan Najib
Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu holds a press conference in Ipoh February 13, 2019. — Picture by Farhan Najib

IPOH, Feb 14 — NJ Development Sdn Bhd, the company that was awarded 400-hectare land concessions over two forest reserves, is no longer an RM2 company.

A check with the Companies Commission of Malaysia (SSM) showed the company, incorporated on July 26 last year, has increased its paid up capital to RM500,000 from the initial RM2 with two directors and one secretary.

With its registered address at Diamond Square Commercial Square Centre in Setapak, its business address is located at Taiping.

Sources told Malay Mail that of the two directors, with Datuk titles, one of them is a former Malaysian Timber Industry Board legal officer while the other was attached with the board's Forest Plantation Development.

Both were appointed on July 26 while the secretary was appointed the next day, some two months after Pakatan Harapan won the 14th general election.

The private limited company stated in its SSM documents that its nature of business was “growing of plants for planting, commodity brokers and dealers, and wholesale of a variety of goods without any particular specialisation”.

Malay Mail had previously reported that the company was awarded the concession of two forest reserves, namely Kledang Saiong and Bukit Kinta, for the purpose of forest farm development.

Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu was quoted as saying that the company was chosen for its ability to carry out forest farming.

He also reportedly said that the company’s directors have vast experience in forest farming development.

The controversy erupted when DAP lawmaker Thomas Su lodged a report with the Malaysian Anti-Corruption Commission over the state government's decision to award the concession to the then five-month-old company which initially had a paid-up capital of just RM2 that was formed after the 14th general election.

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