News by Neily Syafiqah

"The seizure of the Equanimity yacht by the Malaysian government, 1Malaysia Development Bhd (1MDB) and two of 1MDB subsidiaries is valid and in accordance with the procedures set out in Malaysia's laws."

The features of the scheme include giving flexibility to banks in lending guidelines for first-home buyers.

Economic Affairs Minister Datuk Seri Mohamed Azmin Ali: The immediate focus of the new board and Felda’s management is to revitalise Felda’s cash flow position with creditors to restructure Felda’s loans, which have reached RM8.025 billion.

"We are stuck because of this so we cannot re-tender the project or else we have to pay them compensation."

"No, no... [I've heard] nothing," he told reporters.

Najib: Of course, I have no knowledge of it (the arrival of the yacht). I have not been onboard. I did not know about it until it came out in the press.

Mohamed Azmin said his recent visit to Singapore is a private visit and was not arranged to meet with the Singapore Trade and Industry Minister.

Loke stressed that improving PKFZ's performance is a major priority for the Transport Ministry.

The government has decided to cancel this megaproject to reduce the country’s debt load.

'If the government intends to terminate the project, it will likely refer to legal procedures to determine the amount of compensation that has to be paid,' said the MoF.