During a press conference yesterday, PNB group chairman Tan Sri Dr Zeti Akhtar Aziz said the disposal was part of the fund’s strategy to recycle its capital, which will allow it to reinvest in other assets to generate higher returns.
Under the partnership, TLA will invest RM80 million in RCSB, of which RM40 million is for equity participation and another RM40 million for project financing.
In a filing by EcoWorld, it said its subsidiary Melia Spring Sdn Bhd has inked a conditional sale and purchase agreement with RRSB, which is 80%-owned by Iskandar Investment Bhd and 20% owned by Iskandar Coast Sdn Bhd, a unit of Iskandar Waterfront.
“Deloitte takes its responsibility as an audit firm seriously, and is disappointed that the SC has dismissed our application for a review of the administrative sanctions, and has maintained its previous decision on the sanctions," the firm said in a statement yesterday.
Group chief financial officer (CFO) Ahmed Fairuz Abdul Aziz will take the helm
In a stock exchange filing today, the bank confirmed it has been served with a writ and statement of claim by Najib on Monday (Dec 9), and that Najib is seeking damages in relation to the conduct of his accounts.
The document states that the accounts were closed without Najib's knowledge at the material time.
The group’s revenue for the quarter, however, fell 5% to RM93.62 million from RM98.36 million in the previous year.
This resulted in a higher earnings per share of 3.6 sen for 1QFY20 compared with 3.3 sen for 1QFY19.
As a result, its earnings per share was higher at 5.28 sen for 3QFY19 compared with 5.07 sen for 3QFY18.
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