News by Adam Aziz

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.

The jobs involve three drilling contracts and two contracts for the engineering and construction (E&C) segment, the group announced yesterday.

YFG said the notice of termination was served to its wholly-owned subsidiary YFG Engineering Sdn Bhd owing to some legal and financial issues, which currently affect the progress and sub-contractor of the project on the part of Atta Properties.

"The queries arose from Malaysia's inaccurate claim earlier in the day that this matter had only come to their attention two months ago (October 2018)," said Singapore's Ministry of Transport in a statement.

"Failing to do so, we are prepared to release the letters for full disclosure of such information for the public's comprehension of our stand on the same."

In a statement today, Azmin said MEA has worked closely with Felda to prepare the report to obtain an in-depth picture of numerous issues surrounding Felda.

The contract should have been awarded via open tender, said Lim.