News by THEEDGEMARKETS.COM

The group's wholly-owned unit Econpile (M) Sdn Bhd was awarded the contract by WCT OUG Development Sdn Bhd, Econpile said in a filing to Bursa Malaysia.

"The group, he said, has no intention to exit its business there as the group still views Hong Kong as a mature, affluent market that serves as a gateway to the larger Chinese market ..."

"An application has been filed so that the court could consider for Najib's lawyers to prepare his defence in the SRC case," said sources on both sides on condition of anonymity.

The proposed development involves two blocks of serviced apartments, comprising a 36-storey Tower 1 and a 37-storey Tower 2, with a total of 902 units, and includes a common facilities podium and a six-storey car park in Puchong.

The Hong Kong-based English language news publication, citing law enforcement officials, reported that Indian police had monitored his movements while he was there on a three-day visit, but did not apprehend him.

The population comprises 16.85 million males and 15.78 million females.

“In the event the value of the assets depreciates further, then the losses for the government will be higher than RM10.3 billion.”

The group also attributed the higher earnings to higher other income, in which RM6.9 million was recognised following a settlement from an arbitration reached between its wholly-owned unit KKB Builders Sdn and Global Upline Sdn Bhd.

Umno Kedah is among 41 entities which the Malaysian Anti-Corruption Commission (MACC) had filed forfeiture suits against to recover assets linked to 1MDB.

In a filing today, the developer said revenue for the quarter slipped to RM932.07 million from RM993 million previously as it had last year completed and handed over its Australian project Maison Carnegie, of which the revenue and profits were recognised on completion basis.