News by Syahirah Syed Jaafar

“Contributions are exempted from tax. But in this case, Najib will have to show whether the billions of ringgit were a gift or tied to an income. The burden of proof lies with him. If it’s not taxable then he should file for an appeal."

"First of all, political contributions including from the Ministry of Finance of Saudi Arabia are not subject to or taxed under the law. Secondly, as it is general knowledge, income derived from foreign countries is not taxable under the law," Najib wrote in a Facebook post this afternoon.

The development entails the building of two 18-storey serviced apartments, comprising 648 residential units, on an eight-storey podium with seven-storey car park and one-storey related facility on top of the podium.

The contract is for the construction of three blocks of apartment in Cyberjaya, together with mechanical and electrical works.

The partnership is to bid for jobs under the Sarawak Coastal Road Network project and the Second Trunk Road project in the state.

The group currently has under its belt more than 20,000 acres of land with a gross development value of about RM89 billion.

As for other toll operators, there are mixed reactions.

Boustead's wholly-owned unit Boustead Hotel & Resorts Sdn Bhd has accepted the offer to sell from Hotel Royal today, the group informed in a Bursa Malaysia filing.

"The cost that has been officially announced is RM7.5 billion. PIL 1 cannot be compared to other highways as each highway is dissimilar in many ways. It is for this reason that the per km cost of construction cannot be worked out on simple arithmetic as each highway has its own unique features which are needed to cater for the local conditions," he explained in a statement today.

The packaging manufacturer and property developer said despite the soft market, its take up rate for its affordable home projects around the Peninsula has consistently been good and will continue to focus on this segment for its property arm.