News by THEEDGEMARKETS.COM

Ahmad, 54, is charged with not declaring to the Inland Revenue Board (IRB) that the RM2 million via an AmBank Islamic cheque he received from former premier Datuk Seri Najib Razak is from illegal proceeds.

According to the MACC's statement, the commission received consent to charge Shahrir and Ahmad under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

Najib's counsel Harvinderjit Singh argued that the documents have yet to be conclusively determined and it is the onus of the prosecution to call an expert to verify the documents.

Deputy public prosecutor (DPP) Datuk V Sithambaram said the prosecution had narrowed down the disputed exhibits to seven documents, comprising shareholder minutes, shareholder resolutions and a bank transfer instruction.

This is its second construction job this month, bringing its contract secured to RM948.95 million year to date.

In a statement to Bursa Malaysia today, IOI Properties said Yeow Chor, who owns a direct stake of 0.124% in IOI Properties, has a deemed interest of 62.954% in the company. Meanwhile, Yeow Seng, who owns a direct stake of 0.002% in IOI Properties, has a deemed interest of 62.947% in the company.

Following this, the judge directed lawyers representing Nazifuddin and IRB to file their written submissions on the stay application.

Justice Ahmad Zaidi also fixed March 2 for case management for parties to inform him of the outcome of the application at the Court of Appeal.

The research firm has upgraded Gamuda to "Outperform" with a higher sum-of-parts derived target price of RM4.70 from RM3.90 previously.

The old contract signed by the Barisan Nasional government allows PLUS to increase its toll rates by 5% every three years, and every time Barisan Nasional wanted to stop the price increase, it had to use public funds to pay compensation to PLUS. Now there will be no increase until 2058, and no compensation will need to be paid to PLUS.