News by Chester Tay

Arul Kanda has originally filed an application on Monday (Aug 19) to the High Court, seeking to unfreeze his two CDS accounts and compensation for loss of share value and investment opportunities arising from the freeze.

“Our utmost priority is to effectively play our role as the righteous opposition to serve as check and balance to the PH (Pakatan Harapan) government.”

MACC investigating officer (IO) Senior Assistant Commissioner Rosli Hussain was shown an article from The Wall Street Journal (WSJ) and he said it was not the WSJ report that resulted in the investigations.

The bank was represented by lawyer Chethan Jethwani yesterday, when the trial was originally scheduled to begin, but was postponed by a week to Monday.

However, defence lead counsel Tan Sri Muhammad Shafee Abdullah requested that the trial to be postponed until Sept 3 this year.

In a joint statement by Ministry of Finance and Ministry of Economic Affairs, they said the Cabinet had met on Aug 14 this year and agreed to the reopening of registration on Sept 1, 2019. "This would be an opportunity for new Bumiputera contractors, especially the younger generation who are technically qualified to more actively participate in the construction industry, particularly in securing government projects," the ministries said.

At the same time, the property developer has earmarked non-strategic land bank in second-tier cities such as Batu Pahat and Muar in Johor for divestment to focus on bigger cities.

Rosli told the High Court that Low left Malaysia through Sultan Abdul Aziz Shah Airport on May 29, 2015, while Nik Faisal left the country through KLIA on May 7 last year, two days before the 14th General Election, which saw the country change its government.

The Tee family bought into GSB in May last year, from a group of shareholders. It also controls Kerjaya Prospek Bhd, holding 70.26% stake in the construction company. 

Tune Hotels is wholly-owned by a British Virgin Islands-incorporated unit called Tune Hotels Real Estate Holdings Ltd, which in turn is wholly-owned by Tune Hotels.Com Ltd.