News by Ahmad Naqib Idris

Out of the 10 imported cases, eight cases were from India, one from Indonesia and one more from Qatar.

Finance Minister Tengku Datuk Seri Zafrul Aziz said direct negotiations are allowed as long as they meet one or more criteria under the Act, which includes the procurement of supplies and services that are required urgently, whereby not doing so would jeopardise national interest.

"The performance of property development segment declined significantly from a profit of RM4.8 million in the preceding quarter to a loss of RM94.4 million in current quarter. Property investment segment registered a loss of RM5.0 million as compared to a profit of RM0.5 million in the preceding quarter.”

Chief Statistician of Malaysia Datuk Seri Dr Mohd Uzir Mahidin: The sharp decline in GDP for this quarter was due to the three phases of the MCO and CMCO (Conditional Movement Control Order) implemented to curb the spread of Covid-19 in Malaysia. The capacity constraints due to the restriction imposed during the lockdown had affected growth in the services, manufacturing and construction sectors.

Deputy Finance Minister Datuk Abdul Rahim Bakri said the A- ratings by Fitch, S&P and Moody’s reflect their confidence in Malaysia’s ability to support its economy via the PRIHATIN and PENJANA stimulus packages.

The RM11.97 billion figure comprises RM7 billion in supply expenditure and RM4.97 billion in development expenditure

Pua had proposed a motion to amend Datuk Seri Ahmad Maslan's (BN-Pontian) motion of thanks, to facilitate debate on the need for a special select committee to evaluate the actions taken by the government to recover cash and assets related to 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd.

"As far as we are concerned, there is no basis to the charge. We will fight it to the very end and we will use the court process to prove that my client is innocent."

During his winding up speech, Finance Minister Tengku Datuk Seri Zafrul Aziz said that there were records proving that the previous government, on Dec 13, 2019, offered an out-of-court settlement for an amount of US$4 billion with Goldman Sachs. However, the US-based investment bank rejected the offer and made a counter-offer of US$1.5 billion.

“We have seen the PN (Perikatan Nasional) government taking action to reach a settlement with various parties, including Goldman Sachs and Riza Aziz. These settlements have raised many questions and concerns that Malaysia’s rights to the 1MDB-related assets have been jeopardised.”