News by TheEdgemarkets.com

It was reported that Tan is accused of giving — and Ku Nan receiving — RM1 million for the approval of Nucleus Properties Sdn Bhd's application (now known as Paragon City Development Sdn Bhd), to increase the plot ratio relating to the development of Lot 228 along Jalan Semarak here.

If convicted, the duo stand to face a maximum 20 years jail term and a minimum fine of RM10,000 or five times the amount of graft received.

Sessions Court Judge Rozina Ayob had set Sept 20 for the next case management, which prompted senior deputy public prosecutor (DPP) Datuk Seri Gopal Sri Ram to ask for dates for the hearing to commence.

The proposed buyback of the resort hotel consists of an administration building, hotel, apartment blocks, standard and individually designed chalets and villas and other ancillary buildings and structures known as Holiday Villa Cherating.

“Looking ahead, the underlying fundamentals surrounding the operating landscape remains challenging on the back of global whirlwind, moderation in domestic economy and fluidity in Government policies amidst the New Government reform.”

Syed Ali will be replacing Datuk Pee Kang Seng @ Lim Kang Seng, who has resigned yesterday due to other work commitments and responsibilities, separate filings with the local stock exchange yesterday revealed.

R Kenghadaran, who was also a former Hindraf leader who was detained under the now-defunct Internal Security Act, filed the suit at the High Court yesterday.

In a filing with Bursa Malaysia today, Malton said if the JV unit fails to sign an investment agreement for the project with the Taipei city authorities by tomorrow (Aug 9), its qualification as the best applicant for the project would be waived.

"The [rationalisation] plan was done by me, but the implementation was not done by me... It was done by Arul (former 1MDB chief executive officer Arul Kanda Kandasamy)."

Husni had testified that he was instructed to sign documents pertaining to the government guarantee for SRC’s first RM2 billion from Kumpulan Wang Persaraan (Diperbadankan) (KWAP) despite not having sufficient documentation to scrutinise the arrangement.