This is a story about how some public listed companies from Peninsular Malaysia have gained ” ownership” of Sabah’s Native Title lands through seemingly legal but downright dishonest means via sublease.

This modus operandi, which started around the 1990s, has been so successful that now the talk of the town is that even China nationals are getting hold of Native Title lands by setting up firms and hiring natives as employees, who hold these assets in trust. The whole idea is to circumvent the law and reap millions from the land after adding value to it by planting oil palm or other crops.

In most cases, the public listed companies do not show any of these landed assets in their annual reports, which are hidden under profits and nominees. The nominees are often workers with little education so they dont know they being used. Many of these lands were acquired after the PBS administration and yet declared under a 90-years lease in many of the public listed companies annual report declarations. One such public listed company is IJM Plantations Berhad.

The Securities Commission of the Malaysian Stock Exchange should investigate IJM Plantations Berhad to ascertain whether any deceitful practices have been committed in this regard.

The end result is that many SABAH’s NATIVES will lose their lands as these will be consolidated with others and made to appear that these public listed companies have a large land bank with sub leases of up to 90 years as in the case of IJM Plantation Berhad.

FULL Story: READ HERE

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