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“My guess (for the PDP agreement to be signed) is next few weeks,” he said.

He was reading out his witness statement in the High Court yesterday, where he also refuted earlier testimonies saying that he would give directions to the board through SRC’s former chief executive officer and managing director Nik Faisal Ariff Kamil, who was the sole link between the two parties.

The Taiping High Court will set the date and reserve price for the auction.

The Act, which is intended to protect both landlords and tenants in the event of any dispute that arises during a tenancy period, was first announced by the Ministry this April.

In a note today, S&P Global Ratings said it believes Genting Bhd will support the outstanding debt at newly-acquired Empire Resorts Inc to maintain its brand and reputation, even as it expands its Singapore and Las Vegas properties.

During his examination-in-chief by defence lawyer Rahmat Hazlan today, Najib testified that King Abdullah had donated US$800 million through a series of transactions from Tanore Finance Corp into his AmBank account in early 2013, as a "gift that I can spend at my absolute discretion".

At midday break, the group's shares were traded at 53 sen, valuing it at RM263.1 million.

"I found that Jho Low was successful in collaborating with the Arabs and Khazanah Nasional Bhd in the Iskandar Development," said Najib. 

Najib said this when testifying on the witness stand in his SRC International Sdn Bhd trial to questions from his lawyer Wan Aizuddin Wan Mohammed.

"I never directed the board of directors on the same matter. I was not in any position to micro-manage any MoF Inc company, including SRC. Furthermore, SRC was not the only MoF Inc company that [was] involved in national interest at that time. There was no reason for me to direct the SRC board of director through Nik Faisal," he said.