News by Ahmad Naqib Idris

Replying to former premier Datuk Seri Najib Razak’s lawyer Tan Sri Muhammad Shafee Abdullah, 1Malaysia Development Bhd’s (1MDB) former CEO Mohd Hazem Abd Rahman rejected the claim that he committed abuse of power and breach of trust by misappropriating US$250 million from 1MDB

According to OECD’s third Economic Survey of Malaysia, high unemployment amid the pandemic and weak productivity growth have posed challenges, amid the current crisis.

“Under the revised Reference Rate Framework, the Standardised Base Rate will be used as the common reference rate for all financial institutions for their new retail floating-rate loans. The Standardised Base Rate will be linked solely to the Overnight Policy Rate (OPR).”

The figure was 0.3 percentage points higher than the 4.5% reported for May, which also marks its first increase after four consecutive months of declines.

By state, the highest unemployment rate in the quarter was in Labuan (8.8%), Sabah (8.7%), Perlis (5.3%), Kelantan (4.8%), and Selangor (4.4%).

Zahid said the Umno Supreme Council, at a meeting today, decided to not defend the Perikatan Nasional (PN) government, which he deemed “has clearly failed in the eyes of the people”.

The subcontract commences today, and is expected to be completed by May 31, 2022.

EcoFirst group chief executive officer Datuk Tiong Kwing Hee: The general property sector has been severely affected by the prolonged Covid-19 pandemic and the lockdown measures introduced to contain the spread of infections. We’re not spared from the impact of the pandemic, as the group has to postpone its new launches amidst the reimposition of the Movement Control Order.

MRCB George Kent project director Patrick Hwang Chee Leong: We will investigate the fall of scaffolding at the LRT Shah Alam construction site on Jalan Langat, Bandar Baru Tinggi (adjacent to Lotus’s Klang and Premiere Hotel), and will closely monitor the recovery of injured workers and ensure their well-being is prioritized

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the decision is in line with the principles of the National Recovery Plan