United Malacca warns of scam

KUALA LUMPUR: United Malacca Bhd disclosed yesterday that it had received forged documents purportedly signed by its directors authorising the sale of 25,000 acres (10,000ha) of plantation land in Kinabatangan, Sabah.

The forged documents received are:-
i) a purported power of attorney whereby United Malacca purportedly authorises a third party to sell the Millian-Labau land and collect the proceeds; and,
ii) a letter purportedly signed by directors of United Malacca confirming the validity of this power of attorney.

The company said the signatures in both the documents purported to be those of the directors of United Malacca were forged and the directors concerned had lodged a police report on the matter.  

“Any document purportedly signed by the directors or officers of United Malacca relating to the sale of the Millian-Labau land or receipt of any monies relating to such sale is a forgery and legally invalid,” it said.

The company said despite putting up advertisements in June and July last year, it continued to receive several enquiries from numerous parties with regard to the sale of the land in the Kinabatangan district.

According to United Malacca, it has no intention to dispose of the land and has not appointed any third party or agent to seek or negotiate the sale.

It told the public not to be misled by any person or party relating to the issue.

The company added that it would take appropriate action against any party  responsible for the forgeries, and continuous and deliberate misinformation about the land sale.

The two adjacent parcels of oil palm plantation are in the locality of Sungai Millian-Labau in the district of Kinabatangan, which the company acquired in November 2009.

United Malacca posted a lower net profit of RM56 million for the nine months ended Jan 31, a decline of 19.9% from RM73.6 million a year ago.

This was due mainly to lower crude palm oil and palm kernel prices.

Its revenue was RM161.9 million compared with RM186.8 million in the previous corresponding period.

United Malacca is engaged in oil palm plantations and investment holding and has 17,000ha in Sabah, Pahang, Negri Sembilan, Melaka and Johor.

The company’s major shareholders include Oversea-Chinese Banking Corp Ltd and Aberdeen Asset Management Plc group.

This article first appeared in The Edge Financial Daily, on April 23, 2013.

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