Investor fumes over RM9m land transfer
28/11/2007 The Malay Mail

Yesterday, MCA Public Services and Complaint Department head Datuk Michael Chong, his legal adviser, Datuk Theng Fook, Taiwanese investor Chen Wei Pin and his legal adviser, Yee Kar Meng, lodged a report at the Federal Territory ACA office on a sus pected fraudulent transfer in volving a piece of land worth RM9.7 million.

”This is a serious matter, and it needs proper investigation. The Federal Territory land office had said all files were missing, but computer records showed a trans fer was made and a new land title was issued.

”I believe it is an inside job. We hope the ACA will take action as soon as possible.

”We appeal to the other party, Zen Zaman Sdn Bhd, who claim that the land is theirs, to come forward so they can settle the matter with the original owner,” Chong said.

Theng said this is a serious mat ter as it involved a foreign investor.

“This issue will affect potential investment from foreign companies and will tarnish Malaysia’s business image,” Theng said.

Chong said that he will make arrangements to meet the commercial crime police to go through the case, and he would also talk to Housing and Local Government Minister Datuk Seri Ong Ka Ting.

The fraudulent transfer of a piece of land worth RM9.7 million was discovered by Chen’s office boy while handling the sale of his land.

The 1,580 sqm plot of land, behind Plaza See Hoy Chan in Changkat Raja Chulan, was bought by Chen and his two brothers in 1990.

However, the office boy dis covered that the director of a loc al company had entered a private caveat on the land but Chen denied any knowledge of the transaction.

A land search showed that an other Malaysian is now the re gistered owner of the property through a memorandum of trans fer registered on Oct 24.

Chen had lodged two police re ports before seeking Chong’s help.