News by justin Lim

The US government had returned US$57.04 million (RM236.72 million) given up by Red Granite Pictures, a US-based film production company linked to former prime minister Datuk Seri Najib Razak and his stepson Riza Aziz.

Thomas said the first tranche of returned funds of US$57.04 million (RM233.7 million) was credited into the 1MDB asset recovery account, a segregated trust account opened specifically for this purpose.

To undertake mechanical and electrical works for the construction of a 41-storey office suites in Bandar Sunway, Selangor. 

"The turnaround plan is to ensure we can recover money that we paid to contractors, as much as possible, in order for us to meet all our obligations and liabilities," said PR1MA chairman Tan Sri Eddy Chen.

Kimlun said its wholly-owned Kimlun Sdn Bhd secured the job from Rexpoint Resources Sdn Bhd.

IGB REIT, which owns Mid Valley Megamall and Gardens Mall, posted a marginal 0.94% increase in net property income for its first quarter ended March 31, 2019 (1QFY19).

The campaign carries a grand prize of RM1 million and total cash prizes worth close to RM2 million.

“Assuming 50% of this comprises construction cost, this would present RM70 billion worth of potential job flows. Moreover, the emphasis of local content in the construction process would further stimulate local construction activities.”

The research house said the value has emerged given that IOI Properties' share price has fallen about 15-20% in the past three months.

The construction firm together with its consortium partner, DWL Resources Bhd, is said to have submitted its bid for jobs in the newly revived East Coast Rail Link (ECRL). The contract value could be to the tune of multibillion ringgit.