News by theedgemarkets.com

This is because there is no synergy to be derived between the two companies at this juncture, said Datuk Tee Eng Ho

Hong Leong Company and HL Holdings Sdn Bhd have ceased to be substantial shareholders of EWI, according to filings with Bursa Malaysia today.

Under the agreement, Malayan Cement will acquire 12 companies under YTL Cement.

Selangor contributed to 2,082 of the new cases today. 

E&O said the boardroom changes are effective today.

This comes after reports saying 1MDB and its former subsidiary SRC International Sdn Bhd had filed several civil suits to recover billions of dollars in losses suffered by the firms. Six suits were filed by 1MDB and its subsidiaries, while another 16 were by SRC.

One of the suits was against Wong & Partners and Chia for a sum of US$1 billion and payment of legal fees of RM664,821.21 for their alleged role in the fraud. The law firm had represented 1MDB in the past.

In a note today, Maybank Investment Bank economists Suhaimi Ilias, Dr Zamros Dzulkafli, Ramesh Lankanathan and William Poh Chee Keong said they are keeping the research firm's full-year 2021 economic growth forecast for Malaysia as measured by gross domestic product (GDP) at 5.1% for the time being

"Nothing the firm did or did not do caused any loss to 1MDB. Therefore, the extraordinary sum claimed is wholly unjustified and an attempt to pressure the firm into a settlement."

"We observed that 80% of current infections are not in clusters but are sporadic. This means that Covid-19 is already in the community and this is why we are worried that the number of cases may rise."

“I have to borrow to buy food because the assistance is not enough… I really don’t have money. I don’t even have savings,” a 44-year-old single mother with school-going children known only as “Ms Z” was quoted in the survey.