News by Adam Aziz

The project is termed Project Platinum Main Building.

A Chinese daily, quoting a source, said the decision was made by the Cabinet at its weekly meeting yesterday. However, the compensation was not discussed as it is understood that the government is still in discussion with CCCC on the matter.

It was reported that CCCC was instructed to stop all construction works and services regarding the ECRL project by Finance Minister Lim Guan Eng on July 3 last year until further notice, pending a review.

Sunway said the land will be acquired by a proposed new joint venture (JV) company to be incorporated, in which Hoi Hup and SDPL will have an equity interest in the proportion of 65:35. SDPL’s cost of investment in the JV is S$65 million.

Ng is seeking the US lawyer's help to assist him with the affidavit reply.

In a filing yesterday, Eastland said it has aborted the cash call for two reasons — hiccups in the proposed development at the land it wanted to acquire, and that the amount raised may not be enough for company requirements. 

The committee will report directly to the prime minister, said the PMO in a statement yesterday. However, it has not underlined specific measures to address Malaysia’s debt burden. The committee, said the PMO, consists of five members with expertise in finance, economics, and law.

This confirms a report by The Edge Malaysia weekly on Oct 8, 2018 that HCK was seeking to take over the project, which has seen delays since it was first launched in 2012.

Goldman Sachs said that the charges against the bank are “misdirected”, and that it will “vigorously” defend against them.

The guarantee is in relation to an agreement between Star Media and JAKS’ unit, JAKS Island Circle Sdn Bhd, for the latter to develop a 15-storey tower in Petaling Jaya.