Jkg Land Berhad

Quarterly rpt on consolidated results for the financial period ended 30/04/2024

JKGLAND - Notice of Book Closure

Annual Report & CG Report - 2024

General Meetings: Notice of Meeting

First and Final Dividend

Robert Tan's MACC Case: The Spanco Scandal and Ongoing Legal Proceedings

1. Malaysian Anti-Corruption Commission (MACC) charges Robert Tan.
• Tan Sri Robert Tan Hua Choon, also known as the 'Casio King', is accused of cheating the Finance Ministry regarding a contract worth RM3.966 billion to supply, maintain, and manage government fleet cars.
• He allegedly misrepresented that Spanco Sdn Bhd had at least 30% bumiputera interests in the tender process, leading to the company securing the contract.

2. Trial Proceedings:
• Tan pleaded not guilty to the charges.
• The charge against him falls under Section 420 of the Penal Code, which carries a mandatory jail time of at least one year and up to 10 years, as well as a fine.
• Tan is represented by legal counsel, including Datuk Wan Azmir Wan Majid, Amin Othman, and Datuk Hisyam Teh Poh Teik.

3. Prosecution and Defense Arguments:
• Deputy public prosecutor Mahadi Jumaat led the prosecution, while Razlan Hadri Zulkifli held a watching brief on behalf of Spanco.
• The prosecution requested bail of RM2 million with one surety, surrender of Tan's passport, and instructions for him not to interfere with potential witnesses.
• Tan's defense team argued for a reduction in bail due to his health issues, including hypertension and knee and back pain.

4. Bail Decision:
• The judge set bail at RM2 million and ordered Tan to surrender his passport.
• Tan was also directed not to interfere with potential witnesses and to report to the Malaysian Anti-Corruption Commission (MACC) office monthly until the case concludes.

5. Next Court Date:
• The case management is scheduled for June 4.

6. Contract dispute:
• In 1993, Spanco had a 25-year contract from the government to supply and lease cars, along with providing full maintenance services that expires in 2018.
• In 2019, the government opens tenders to companies to bid for a 15-year contract to supply and manage its vehicle fleet.
• Cekap Urus Sdn Bhd was given the letter of intent (LOI) by the Finance Ministry for the government fleet car contract.
• Cekap Urus is a joint venture between Berjaya Corp Bhd, Naza Corp Holdings Sdn Bhd and Tunku Tun Aminah Sultan Ibrahim Ismail, formed to jointly bid for the contract.
• However, the government terminated the LOI that was initially awarded to Cekap Urus, and gave the contract to Spanco instead
• In 2023, Tan Sri Vincent Tan files a suit against the government and Spanco.
• The Berjaya Group founder claims that the Letter of Intent (LOI) was canceled unfairly before the official award announcement. Cekap Urus had submitted the lowest bid and won the bidding process. However, the LOI was canceled after a change in government, with Tan Sri Muhyiddin Yassin becoming the Prime Minister. Vincent Tan alleges that the tender was then awarded to Spanco, even though their bid was RM700 million cheaper than Spanco.
• Cekap Urus challenged the termination of the LOI by the government through a still ongoing judicial review.
• The company also challenged that the subsequent awarding of the contract to Spanco through direct negotiation is invalid.
• Cekap Urus requested damages, costs, and a stay of the government's decision pending resolution of the dispute.
• The company then obtained leave from the Kuala Lumpur High Court for a judicial review, although the hearing has not started yet.

7. MACC investigation
• Following the MACC investigation in Robert Tan's case, MACC raided 4 companies.
• The MACC acquired control over more than 100 private accounts and companies affiliated with Spanco.
• Nevertheless, no freezes were placed on any of the accounts.

8. Robert Tan's related companies:
• Spanco: Tan Sri Robert Tan Hua Choon is a major shareholder, holding 24.65% of shares. Other shareholders include Jati Rata Sdn Bhd (46%), Datuk Seri Tan Han Chuan (14.67%), Datin Tan Ching Ching (9.68%), and Minhat Mion (5%). Spanco is involved in government fleet management.
• $MARCO / 3514 (MARCO HOLDINGS BERHAD): Tan is Chairman and Director, major shareholder holding 13% of shares. MARCO distributes electronic calculators, timepieces (Casio, G-Shock), musical keyboards, and other products.
• $JASKITA / 8648 (JASA KITA BERHAD): Tan serves as Executive Chairman and major shareholder, owning about 32% of shares. JASKITA manufactures and distributes electric motors, power tools, industrial equipment, automobile batteries, and related products.
• $JKGLAND / 6769 (JKG LAND BERHAD): Tan serves as Chairman and Director, major shareholder holding 15% of shares. JKGLAND engages in property development, oil palm cultivation, and other activities.
• $FCW / 2755 (FCW HOLDINGS BERHAD): Tan serves as Chairman and Director, major shareholder with 11% of shares. FCW wholesales and processes pharmaceuticals, cosmetics, toiletries, and other products. Additionally, the company is involved in residential and commercial property development.

Quarterly rpt on consolidated results for the financial period ended 31/01/2024

Quarterly rpt on consolidated results for the financial period ended 31/10/2023

Quarterly rpt on consolidated results for the financial period ended 31/07/2023

General Meetings: Outcome of Meeting

Quarterly rpt on consolidated results for the financial period ended 30/04/2023

Annual Report & CG Report - 2023

Quarterly rpt on consolidated results for the financial period ended 31/01/2023

Quarterly rpt on consolidated results for the financial period ended 31/10/2022

Quarterly rpt on consolidated results for the financial period ended 31/07/2022

General Meetings: Outcome of Meeting

Quarterly rpt on consolidated results for the financial period ended 30/04/2022

Annual Report & CG Report - 2022

General Meetings: Notice of Meeting

PETALING JAYA: JKG Land Bhd is expecting the country’s economic recovery to continue in 2022 and 2023, helped by progressive opening of economic sectors, although the property developer remains cautious about its business prospects due to global supply chain shocks, compounded by rising input costs.

Quarterly rpt on consolidated results for the financial period ended 31/01/2022

Change in Remuneration Committee - TAN SRI DATO' TAN HUA CHOON

Change in Nomination Committee - TAN SRI DATO' TAN HUA CHOON

Change in Remuneration Committee - ENCIK MINHAT BIN MION

Quarterly rpt on consolidated results for the financial period ended 31/10/2021

Quarterly rpt on consolidated results for the financial period ended 31/07/2021

Quarterly rpt on consolidated results for the financial period ended 30/04/2021

General Meetings: Outcome of Meeting

General Meetings: Notice of Meeting (Amended Announcement)

Annual Report & CG Report - 2021