News by THEEDGEMARKETS.COM

Tan Sri Muhammad Shafee Abdullah, the lead defence counsel of Datuk Seri Najib Razak in the 1MDB-Tanore trial, also claimed that the federal government was initially reluctant to take over TIA, and blamed its takeover on Terengganu's interference in TIA's investment decision.

YTL Land said "this will be the final extension" for the offer's closing date.

Najib's lead counsel Tan Sri Muhammad Shafee Abdullah informed High Court Justice Collin Lawrence Sequerah that his client has to leave at 11am to see an eye doctor in Mid Valley.

The former premier's lead counsel Tan Sri Muhammad Shafee Abdullah alleged that the businessman, better known as Jho Low, pulled this move to impress the Terengganu government.

IHH said its wholly-owned unit, Pantai Holdings Sdn Bhd (PHSB), has signed a conditional share purchase agreement with Pulau Memutik Ventures Sdn Bhd (PMV), a wholly-owned subsidiary of Khazanah Nasional Bhd, for the acquisition of the stake comprising 100 million shares and 35,176 redeemable preference shares. PMV holds a 26.04% stake in IHH

"According to (Kerjaya Prospek Group's) management, it is seeing more requests by clients to move the progress timeline of their projects in order to manage payments to contractors."

Security costs could be imposed by the court when the plaintiff or the party filing the suit is a foreigner and the defendent is concerned that the company is not able to pay costs, should it lose the suit.

Shafee further read that the formation of TIA was to ensure that the state continues to receive some form of revenue should its oil well dry up.

It was reported that the 10-year masterplan is known as Malaysia Electricity Supply Industry 2.0 (MESI 2.0).

The property developer made a sudden change by pleading guilty to the alternative charge prior to the trial which is scheduled to commence in two days.