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This phase would entail 1MDB’s spending of another US$830 million to subscribe to notes issued by PSI’s unit, of which US$500 million is now missing, according to the prosecution in the 1MDB-Tanore trial.

“So I urge the government to increase the minimum wage to RM1,500 a month next year.”

"Isa told us that PM (Najib) wants FIC to reconsider the acquisition of the hotel. The board takes into consideration what Isa said and no questions were asked," said FIC ex-CEO Mohd Zaid Abdul Jalil.

The dupe JV agreement, inked on Sept 28, 2009, eventually resulted in 1MDB diverting US$700 million to Good Star Ltd, a company belonging to fugitive businessman Low Taek Jho, also known as Jho Low.

According to Times Herald-Record's website, minority shareholder David Mullen from New Jersey made the claim in a suit filed Tuesday in Supreme Court in Sullivan County.

The prosecution team has 30 to 40 more witness statements to be submitted, alongside all related documents under section 51A of the Criminal Procedural Code (CPC) within two weeks before the trial date of Nov 18, Al-Saifi added.

Shahrol also said 1MDB was given a mandate by Najib, through Jho Low, to undertake the JV, which was deemed as a G2G initiative that "needed to be done".

As a result, Gurupatham and Rajivan said Justice Wong Chee Lin will hear Rosmah's stay application on Tuesday morning, and make a decision on the application then.

The group intends to fund both contracts via internally generated funds and/or external borrowings, the company said.

It said incentives from Budget 2020 should help to address the oversupply and financing issues.