News by theedgemarkets.com

Its 75%-owned unit Sentoria Langkawi Sdn Bhd is planning to sell the 35-acre leasehold plot for RM49.5 million to I Strada Sdn Bhd. Sentoria Langkawi has accepted a Letter of Intent (LoI) for the proposed disposal yesterday.

The plaintiffs Chan Yoke Heng and 23 others’ claim against PDSB was allowed by the High Court on Sept 17, 2019.

Former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi said this was because the account number was provided by PSI, and the remittance form for the payment stated that the account belonged to PSI.

GDB said its unit Grand Dynamic Builders Sdn Bhd executed the Letter of Intent (LOI) from Hap Seng Consolidated Bhd’s unit Sunhill Ventures Sdn Bhd to undertake construction works for the 5-star Hyatt Centric hotel.

This was brought up in the 1MDB-Tanore trial by lead defence counsel Tan Sri Muhammad Shafee Abdullah, referring to an article by The Edge weekly issue dated June 18-24, 2018, which carried an email exchange between Tarek and Mahony dated Aug 7, 2010.

This followed a request from the prosecution, led by former Federal Court judge Datuk Seri Gopal Sri Ram, for Justice Zaini's court to vacate the Nov 18-29 dates and possibly the January dates in order to finish the 1MDB-Tanore trial that also involves Najib, which is deemed as a priority.

The Pekan MP has to appear alongside Arul Kanda Kandasamy – 1MDB chief executive officer (CEO) from 2015 to 2018 – before High Court judge Justice Mohamad Zaini Mazlan as they are jointly charged with audit tampering of the 1MDB accounts.

The land, located in the mukim of Batu, is held by Country Heights’ wholly-owned subsidiary Mega Palm Sdn Bhd.

EIDSB had appointed KIMSB as the main contractor to build 571 units of serviced apartments in Johor.

Downplaying past competition between both national carriers, Goh said the deal would benefit the airlines and that they are "very comfortable" with the arrangement.