News by theedgemarkets.com

The stock of household debt as a share of gross domestic product (GDP) in Malaysia has declined over the years, thanks in part to a weaker housing market, and more deleveraging is likely to continue.

KD District Cooling System Sdn Bhd (KDDCS) was awarded the contract by the Employees Provident Fund Board's (EPF) wholly-owned unit Kwasa Utama Sdn Bhd to supply chilled water to an office building in Kwasa Damansara for a period of 25 years from Sept 1.

"Although our base case scenario calls for the OPR to remain at status quo for the rest of the year, we do not rule out the possibility of another downward adjustment in 2020 if macroeconomic conditions deteriorate," MARC chief economist Nor Zahidi Alias said. 

Laman Lakeside is part of the group’s Spotlight 8 campaign and the second residential product launched in July within the Bandar Bukit Raja township, after the Kyra two-storey link homes that were launched on July 13.

Minister of Finance Inc's wholly-owned subsidiary MRL said in a statement today that calls for local contractors to submit their tenders will start in the fourth quarter of 2019 following submission of pre-qualification (pre-Q) documents in the end of May this year.

Tengku Adnan, who is also known as Ku Nan, is charged in his capacity as Federal Territories Minister in 2016 to have accepted for himself RM2 million from Aset Kayamas Sdn Bhd managing director Tan Sri Chai Kin Kong via a Hong Leong Islamic Bank cheque belonging to Aset Kayamas.

Datuk Tan Eng Boon is accused of giving — and Ku Nan receiving — RM1 million for the approval of Nucleus Properties Sdn Bhd's application (now known as Paragon City Development Sdn Bhd) to increase the plot ratio relating to the development of Lot 228 along Jalan Semarak.

Umno Pekan committee member Ibrahim Awang Ismail, from whom the anti-graft agency has claimed RM100,000, filed a first representation on July 16 to settle half of that value.

The transactions were attempted via bank drafts instead of digital transfers to avoid revealing that the funds came from the Minister of Finance Inc company, according to chat transcripts from the phone belonging to former AmBank relationship manager Joanna Yu.

IRB claimed that the 69-year-old former Federal Territories minister owed excess taxes for the year 2012 till 2017 as stated in a notice served on him on March 15. The notice was sent via AR Registered and was received by Tengku Adnan on March 22.