News by Adam Aziz

Under the JDAs with the four landowners, Tropicana will develop the lands at its own costs.

While many countries adopt both cost approach and the sales comparison method to value properties, Malaysia’s housing industry is seen to ignore the former as reflected in the widening gap between house prices and development costs, KRI said. 

This includes the RM42 million said to be channelled into the bank accounts of former premier Datuk Seri Najib Razak, who is facing seven charges in relation to the misappropriation of SRC funds.

Abu Talib testified that he received cheque worth RM300,000 from the former PM, PMO.

This was confirmed by the second witness who was the BNM investigation officer that led the first team during a raid that lasted until 11am.

High Court Judge Mohamed Zaini set the case management date on Aug 29 this year, in the presence of both accused.

Shafee said the BNM raid on AmBank in 2015 to seek information on the bank accounts of Najib and SRC did not reveal anything new so far.

FGV said the matter has caused "much uncertainty and concern" for its shareholders.

Liew said the proposed amendment has already taken into account the view of the special committee on the Malaysia Agreement 1963 that is currently at work.

"The project development period will be announced when the Ministry of Works obtains the confirmation from related central agencies on the implementation model and funds allocated [for the project]," Baru said.