‘Approval letter mandatory for transaction of GLC land’

KUALA LUMPUR: The government has introduced the federal and state government’s Letter of Authorisation to federal and state governmentlinked companies ( GLCs) for land transactions to ensure land ownership by GLCs can be controlled and monitored to prevent any manipulation which can negatively implicate the government.

The Natural Resources and Environment Ministry, in a statement yesterday said the letter was introduced after the recent transfer of ownership of land belonging to the FELDA Synergy Promenade Sdn Bhd.

“Authorisation letters for land transactions issued by the federal and the state governments to the federal and state GLCs are aimed at monitoring the orderly and protected transactions of the GLC lands to preserve the country’s strategic assets and interests of the people.

“In this regard, the ministry, through the Director- General of the Federal Department of Lands and Mines will issue an administrative directive relating to land transactions involving the GLCs which must be accompanied by a letter from the Ministry of Finance,” it said.

According to the statement, applications for GLC land transactions owned by a state government should be submitted together with a letter of approval from the menteri besar or chief minister of the state. — Bernama