News by Hafiz Yatim

PSOSL’s lawyer Alex Tan told the court that there were some new developments in the UK and for this reason, it was seeking a short adjournment to the hearing of its application.

Mohd Haniff Khatri Abdulla: It (the fine) should not have been stayed completely. But [the court] should at least order him to pay 10% of it by way of instalments.

Lodin resigned from Boustead and its related subsidiaries on Nov 30, 2018, while the others left the company last year.

Judicial Commissioner Quay Chew Soon ruled that businessman Deepak Jaikishan had failed to show there was a prima facie case. Balasubramaniam was also known as PI Bala.

It was reported that Rosmah, who is former prime minister Datuk Seri Najib Razak's wife, is accused of soliciting RM187.5 million from Jepak Holdings Bhd to help the firm secure a RM1.25 billion project to supply solar hybrid power to 369 schools in Sarawak.

With this, Najib's appeal against his conviction and sentence will now proceed to the Court of Appeal. In criminal cases, parties have 14 days to file the notice of appeal.

Justice Mohd Nazlan Mohd Ghazali said the 12 years in jail and the RM210 million fine is for abuse of power, while the three CBT charges carry 10 years jail each. Meanwhile, money laundering charges carries a 10-year prison sentence each.

"The sentences are to run concurrently," he said.

In relation to RM42 million belonging to SRC International Sdn Bhd

In the SRC case, the former finance minister faces one count of abuse of power in relation to his role in approving RM4 billion worth of loans from the Retirement Fund Inc to SRC International. In addition, the Pekan MP also faces three criminal breach of trust charges and three money-laundering charges in relation to RM42 million found in his bank accounts.

It is understood to be the biggest settlement for Malaysia, and possibly also the largest payout by the international investment bank.