New concept of NCR Land Development
The bringing together of NCR landowners with their land and the private sector with their capital and expertise, to develop NCR land for commercial farming on a joint venture basis. The government will appoint its agency to be the Trustee for the landowners.
All rights and interests of NCR landowners will be merged into one parcel of land and this forms the NCR Land Bank. This ONE PARCEL of LAND will be issued with a title in favour of the Joint Venture Company rather than having the landowners issued with individual titles. As a consideration for the use of their land, the NCR landowners will be allocated collectively 30% equity in the company.
Development cannot take place without its being carried out in a systematic manner, Investor would not put a cent in any land over which they have no security and where their investor would not give them a fair return. This arrangement will give absolute right to the implementing company to manage the plantation without interference from NCR landowners over period 60 years. The right of NCR Landowners, however are looked after by the Government agency appointed as their Trustee. This is simply to ensure the orderly commercial development of the land while conferring benefits to NCR landowners in the form of dividend and employment opportunities.
Proportion of Share or Interests in the Land
All rights and interest of NCR landowners which will be merged into one parcel of land will be recorded in a DEED which will be signed by the State Government, NCR landowners and the Trustee.
Your individual share or interest is determined by the number of parcels and sizes of land owned within the Land Bank.
Terms for the Documents of Title
For sixty (60) years.
This is to allow for two (2) crop cycles for oil palm as one cycle would take at least 25 years.
After the expiry of one term of sixty (60) years, with majority decision of the NCR land owners, the said land may be alienated to : (1) All the NCR landowners in their joint names, as registered co-proprietors thereof, or (2) To the company or another company or entity agreed upon by the NCR landowners. (3) To the NCR landowners or their nominees individually after sub-division.