In an exchange filing, the property developer attributed the sharp decline in its net profit to the absence of contribution from land sales compared to the corresponding period last year which carried a significantly higher margin, cushioned by the partial settlement income of Aurora Melbourne Central and Conservatory projects.
"Our defence is pretty identical [with the SRC trial], that my client has been misled."
"The new launches from The Peak and The Conlay will then drive our unbilled sales, because our strategy for the past three years is not conduct new launches but focus on our existing inventory."
Diversified group Sime Darby said today in filings to Bursa Malaysia that Wan Abdul Aziz, 67, plans to retire "due to his health reasons".
Tan Sri Muhammad Shafee Abdullah said the defence did not want to delay the trial, but to bring to the court's attention that the Court of Appeal had on Monday granted leave to Najib and Shafee's applications to remove the former Federal Court judge from leading the prosecution in their cases.
With the group's property project in Genting Permai being completed this year, its property development segment also contributed lower earnings.
The group said it is in the midst of developing a piece of land held along Jalan Klang-Banting here, and is anticipating a gross development value of RM10 billion with 10 main development phases.
It was reported that he also faces 33 counts of bribery at the Shah Alam Sessions Court amounting to RM42.7 million for receiving funds from Ultra Kirana. He had claimed trial to all the charges at the Kuala Lumpur and Shah Alam Courts.
Datuk Seri Gopal Sri Ram: After the 1MDB scandal broke in early July 2015, the accused [Najib] with his mirror image Jho Low took steps to cover his tracks. Sham documents were produced to pretend a donation from an Arab Prince. Among these were letters and four cheques each for a sum of US$25 million purportedly written out by a person said to be the Arab donor.”
The construction group’s revenue for the quarter declined 33% to RM450.11 million from RM669.9 million in the previous year.
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