News by THEEDGEMARKETS.COM

In the Budget 2020 announcement last Friday (Oct 11), Finance Minister Lim Guan Eng said the Cabinet has approved the takeover four Klang Valley highways, which will be funded via government-guaranteed borrowings.

Ku Nan is charged under Section 165 of the Penal Code which carries up to two years imprisonment or a fine or both, upon conviction for receiving a RM2 million bribe as a public officer, namely the Federal Territories Minister.

“If the locals want to buy the property, they can buy it at the same (reduced) price, but we still have supply overhang. We have built so many houses, but they were not sold. When a housing project is not sold, it causes the country to suffer losses."

According to Guan Eng, Khazanah Nasional Bhd, which controls a 51% stake in PLUS, submitted a proposal to sell PLUS to the government because the public investment arm is worried about the diminishing of assets by selling to private parties.

Finance Minister Lim Guan Eng: This measure is expected to benefit the property sector without affecting the interest of Malaysians.

Pragmatic, carefully curated to benefit the rakyat across ethnic groups and with timely incentives to reduce the country's dependence on foreign labour — these are among the comments from Malaysia's top bankers on Budget 2020, which was tabled in Parliament today by Finance Minister Lim Guan Eng.

It should be noted that Prasarana and SMRT have not inked a joint venture agreement, originally scheduled for June 30, 2018.

The minimum wage was previously raised to RM1,100 per month, starting from January 2019.

“This increase will affect approximately 2,000 top income earners in the country,” Finance Minister Lim Guan Eng said while tabling Budget 2020 today.

Lim has previously said, in Parliament, that the government will fund its takeover of the four highways via bond issuances.