News about Malaysia

KUALA LUMPUR (Oct 25): CIMB Group Holdings Bhd and PLUS Malaysia Bhd have worked out a settlement agreement that puts an end to the joint venture partners’ dispute over PLUS’ decision to launch its own toll collection system.

PETALING JAYA (Oct 24): The Court of Appeal’s ruling to disallow Joint Management Bodies (JMBs) to charge different rates of service fees for different components within mixed-use developments is based on a strict interpretation of the Strata Management Act 2013 (SMA) and the Strata Management (Maintenance and Management) Regulations 2015, said Building Management Association of Malaysia (BMAM) and the Malaysia Shopping Malls Association (PPK).

KUALA LUMPUR (Oct 24): The RM1 billion Bank Negara Malaysia Fund for Affordable Housing has subsidised 1,100 home purchasers as at September, according to the central bank's director of financial surveillance Qaiser Iskandar Anwarudin.

  LOS ANGELES (Oct 24): The fugitive Low Taek Jho, or Jho Low's office for his luxury lingerie company is to be sold, as part of forfeiture lawsuits related to recovering money misappropriated from the 1Malaysia Development Bhd (1MDB) investment fund.

  KUALA LUMPUR (Oct 24): It is the 25th day of Datuk Seri Najib Razak’s 1MDB-Tanore trial, with the defence scheduled to continue the cross-examination of the ninth prosecution witness — former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi.

PETALING JAYA (Oct 23): The Malaysian Employers Federation (MEF) said the government's move to increase the minimum wage in major cities took the organisation by surprise as there was no consultation with the relevant stakeholders.

KUALA LUMPUR (Oct 23): The new corporate liability provision in the Malaysian Anti-Corruption Commission Act 2009 under Section 17A needs to be further defined, so corporate organisations know exactly how to implement the right procedures and prevent corruption, a risk management consultant said yesterday.

KUALA LUMPUR (Oct 23): TDM Bhd announced yesterday that its subsidiary PT Rafi Kamajaya Abadi (PT RKA) has been sanctioned by the Indonesian government and ordered to stop all plantation activities at some 900ha of its plantation area in Kalimantan, which has been burnt recently.

KUALA LUMPUR (Oct 23): The Ministry of Human Resources has told newspaper publisher Utusan Melayu (M) Bhd — which ceased operations on Oct 9 — and its interim liquidator UHY Advisory (KL) Sdn Bhd, to pay its employees their outstanding wages, as well as compensation for a voluntary separation scheme (VSS) that took place last year.

KUALA LUMPUR (Oct 22): Khazanah Nasional Bhd has shortlisted four investors to be the strategic partner in Malaysia Airlines Bhd, according to Minister of Economic Affairs Datuk Seri Mohamed Azmin Ali.