News by theedgemarkets.com

“The upgraded rating of Widad Capital’s rating to AA2 positive outlook by RAM reaffirms our growing financial strength and robust business model."

Both companies were to execute a written notice of discontinuance at the High Court of Malaya here in Kuala Lumpur yesterday.

This was in spite of a 2.1% higher quarterly revenue of RM144.35 million, compared with RM141.35 million in 3QFY18, contributed by higher revenue rent and electricity income from Pavilion Kuala Lumpur Mall for supplying electricity to Pavilion Hotel and Pavilion Suites.

This was revealed by defence counsel in the 1MDB-Tanore trial, Tan Sri Muhammad Shafee Abdullah, who produced valuer Edward L Morse's letter of appointment to estimate the worth of the oil and gas assets.

This follows what the former premier had said in a meeting that he does not want to destroy the country.

Qaiser said that to date, less than a tenth of the fund has been used to partially subsidise borrowers under the scheme.

Justo provided emails and documents to The Edge and Sarawak Report sometime in February 2015, which helped in the 1MDB exposés that year.

“There could be some charges dropped ... I can’t imagine which charge (where the High Court) can call (Najib) for defence, because all the charges were poorly (executed),” said Shafee.

The defence's argument is basically the authenticity of the documents is being questioned, and the court should not admit them.

This was despite a 14% rise in revenue to RM147.60 million from RM129.15 million, as it recognised higher work progress at its ongoing construction projects.