News by theedgemarkets.com

Yesterday, Najib as with the past three days of his defence, pinned the blame on Low Taek Jho aka Jho Low as he said he never gave authority to Jho Low to manage his AmBank accounts.

...and about RM3.28 million was spent with Swiss luxury jeweller De Grisogono in Sardinia, Italy. Najib said the jewelry were to be gifts, and it was his prerogative to spend the RM42 million that ended up in his accounts at his discretion, for the benefit of Malaysia.

Sanichi had said last week that the Melaka Halal Gelatin Industrial Park will be situated on a 212-acre piece of land in Kuala Linggi, Alor Gajah, and will house a Jabatan Kemajuan Islam Malaysia (JAKIM)-certified Halal Gelatin Plant, coupled with related downstream industrial activities for applications across diverse industries and sectors, from food sector to pharmaceutical, cosmetic and health products, amongst others.

In a statement to the media, Vell Paari said the action he had filed against his father was to protect him against his former mistress Meeriam Rosaline a/p Edward Paul, who has initiated legal proceedings at the Ipoh High Court against Samy Vellu and himself.

Although median incomes continue to outpace inflation, income growth rates for low-income Malaysians slowed between 2014 and 2016, it said. Moreover, wage growth for younger and less-educated workers has been sluggish, persistently trailing the earnings of older and better-educated workers.

In a bourse filing today, Protasco said the performance-based contract for the long-term management and maintenance of state roads in Sarawak, Package 3 (Mukah Division) was effective from Jan 1, 2020 until Dec 31, 2029.

"I cannot explain this. I am utterly shocked that the bank deals with Jho Low although the power was only given to [former SRC International Sdn Bhd managing director] Nik Faisal Ariff Kamil. I have never allowed Jho Low to deal with the bank over my banking accounts and I was not informed [about] this," said Najib.

Najib said he believes that Azlin may have been told about the additional monies from fugitive financier Low Taek Jho, who is better known as Jho Low.

Testifying in his defence on the seven charges for criminal breach of trust, abuse of power and money laundering, Najib said he wants the court to look at all the evidence, including those from himself, as a whole.

This is despite the trust having completed developments and acquisitions worth over RM600 million over the past two years, bringing its total assets managed to more than RM3 billion.