News by Adam Aziz

The short negotiation period came as a surprise, given such a sizeable settlement, which is equivalent to just below 30% of AmBank's market capitalisation of RM9.52 billion.

The 10-year road map aims to transform Malaysia into a digitally-driven, high-income nation and a regional leader in the digital economy.

The land comprises factory buildings, office complex and warehouse, and carries a net book value of RM28.4 million or 0.44 sen per share as at end last year, according to its latest annual report.

The 7.75-acre land with structures was acquired in 1990 for RM8 million, and carried a net book value of RM6.16 million as at end-April this year.

Six new Covid-19 cases and two recoveries in the 24 hours until noon today

The new cases comprised two local infections and four imported cases.

The flattish bottom line comparison was supported by growth in its pharmaceutical business and plantation, while losses widened in three segments — property and industrial; heavy industries; and trading, finance and investment.

MRCB impaired RM197 million worth of its contract assets, trades and other receivables it believes "will be impacted as a result of the pandemic from some of the group’s completed construction projects in the quarter under review".

Lim Guan Eng: Most of the projects that were procured through direct negotiations were not PH initiatives, but were projects inherited from the former Barisan Nasional administration. The PH government then had instead lowered the cost for some of the projects (projects that were necessary).

The property, with a net lettable area of 285,249 sq ft, comprises a leasehold industrial piece of land with a single-storey warehouse and a double-storey office annex, another single-storey warehouse and other ancillary buildings.