This article first appeared in The Edge Financial Daily on August 9, 2019

KUALA LUMPUR: Synergy Promenade Sdn Bhd’s suit against Federal Land Development Authority (Felda) and its investment arm, Felda Investment Corp Sdn Bhd (FIC), as well as the Federal Territory of Kuala Lumpur Land and Mines Office (PTG WPKL) relating to the Kuala Lumpur Vertical City project will be heard in the High Court on Oct 17.

This was disclosed by Synergy Promenade’s lawyer Rajesh Kumar Gejinder Nath following an in-chambers case management yesterday before Judicial Commissioner Datuk Seri Latifah Mohd Tahar.

Also present during case management were lawyers from Lee, Hishamuddin, Allen & Gledhill on behalf of Felda and Senior Federal Counsel Rozielawati Ab Ghani on behalf of PTG WPKL.

Synergy Promenade filed the suit on July 9, with the company claiming that it signed an agreement with FIC on June 2, 2014, to be appointed as master developer for a mixed development on 24 parcels of land, measuring 20.66 acres (8.36ha) in total, owned by Felda and situated along Jalan Semarak, Kuala Lumpur.

Under the deal, FIC was responsible for getting Felda to provide the project land and appoint the company as sole master developer with sole and exclusive rights to carry out the project, and to develop the land in various phases within 10 years from the date of the first development order and the land conversion to commercial category.

FIC was required to deliver vacant possession of the land within 30 days of signing the agreement, and also ensure that the vacant possession is not revoked by Felda prior to the completion of the project, said Synergy Promenade.

However, Synergy Promenade claimed that around January 2016, Felda and FIC merely delivered vacant possession of one parcel of the land to the company.