"I have to get proper feedback from Utusan Melayu's management and my department, but if it is true, I would ask the employer to reconsider, see whether others can rehabilitate the company."
“It played a significant role in our history, but we cannot be nostalgic in business."
Utusan said the final working day for employees was Oct 9 while their employment would end on Oct 31, 2019.
"However, 1MDB was not told that the initial secondary subscribers — which subscribed to RM4.5 billion — were Aktis Capital Singapore Pte Ltd and Country Group Securities Pcl — which bought the bonds at a discount, prior to flipping them over to its current holders at par value and possibly premium."
Lawyer Tan Sri Muhammad Shafee Abdullah yesterday showed Shahrol — the prosecution’s 9th witness — two secondary subscription agreements dated May 18, 2009, between AmBank and Aktis and Country Group, wherein the two companies committed to RM700 million and RM3.8 billion of the bonds respectively.
The 342-room hotel is part of the mixed-use development Duo and is situated in the Ophir-Rochor corridor in Singapore.
The land is currently used for the cultivation of rubber, oil palm and mangoes.
The leasehold land with a gross floor area of 246,500 sq ft comprises a single-storey factory with a double-storey office annexed, and also houses a single-storey refuse collection centre, a guard house and a TNB sub-station.
The High Court here today heard that as the sum sought involved a huge amount it had to be approved by the Felda's board of directors.
FIC acting chief financial officer Azlan Mohamed Ismail said the FIC board of directors sought a reassessment of the hotel purchase in 2017 following allegations it was bought at an inflated price.
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