News by Syahirah Syed Jaafar

Mah Sing group managing director Tan Sri Leong Hoy Kum: We have always believed that properties in the affordable range and at good locations are still seeing good demand.

This resulted in a higher earnings per share of 2.48 sen for 1QFY20 compared with 2.03 sen for 1QFY19.

The proposed plan, which entails the establishment and listing of the REIT onto Bursa Malaysia’s main market, will make it the group’s second REIT after its retail REIT, IGB REIT, which was listed in 2012.

Revenue for the quarter, however, fell 13% to RM1.23 billion from RM1.42 billion previously.

Its unit, Pestech Sdn Bhd, received the letter of award last Friday, which is to last two years, the group said in a filing yesterday.

During the cross-examination, Najib's lawyer Tan Sri Muhammad Shafee Abdullah went through various bank statements which showed that Good Star Ltd, a company linked to Low Taek Jho, had made the US$85 million payment to Tarek. Low is popularly known as Jho Low.

Datuk Shahrol Azral Ibrahim Halmi who was the former CEO to the now-defunct sovereign wealth fund, admitted to the High Court yesterday that he had raised the matter of the US$700 million transfer to Good Star, in a private meeting with Najib back in October 2009.

In a statement issued today, the Finance Ministry said based on calculations according to the Automatic Pricing Mechanism (APM), the retail prices of RON95 petrol and diesel for the same period should have been RM2.29 per litre.

“Which means anyone can accuse you of not having adequate procedures. The onus is on you to prove you did have adequate procedures. But how adequate is adequate?”

The water supply contracts were awarded by the Sarawak Rural Water Supply Department and are for the Sarawak Water Supply Grid Programme which entails the construction of water supply from Kota Samarahan to Sebuyau, the group said in a filing today.