News by THEEDGEMARKETS.COM

Minister of Finance Inc's wholly-owned subsidiary MRL said in a statement today that calls for local contractors to submit their tenders will start in the fourth quarter of 2019 following submission of pre-qualification (pre-Q) documents in the end of May this year.

In a statement today, the finance ministry said the unchanged retail prices for RON95 and diesel were in line with the government's decision to stabilise fuel retail prices and reduce the cost of living.

Tengku Adnan, who is also known as Ku Nan, is charged in his capacity as Federal Territories Minister in 2016 to have accepted for himself RM2 million from Aset Kayamas Sdn Bhd managing director Tan Sri Chai Kin Kong via a Hong Leong Islamic Bank cheque belonging to Aset Kayamas.

Datuk Tan Eng Boon is accused of giving — and Ku Nan receiving — RM1 million for the approval of Nucleus Properties Sdn Bhd's application (now known as Paragon City Development Sdn Bhd) to increase the plot ratio relating to the development of Lot 228 along Jalan Semarak.

Umno Pekan committee member Ibrahim Awang Ismail, from whom the anti-graft agency has claimed RM100,000, filed a first representation on July 16 to settle half of that value.

The transactions were attempted via bank drafts instead of digital transfers to avoid revealing that the funds came from the Minister of Finance Inc company, according to chat transcripts from the phone belonging to former AmBank relationship manager Joanna Yu.

IRB claimed that the 69-year-old former Federal Territories minister owed excess taxes for the year 2012 till 2017 as stated in a notice served on him on March 15. The notice was sent via AR Registered and was received by Tengku Adnan on March 22.

Sinmah Development had yesterday (July 31) signed the sale and purchase agreement with seller Chin Huan Ngi.

Tan Sri Muhammad Shafee Abdullah said they would put in an application to strike out the notice and an affidavit in support of the application by Monday (Aug 5).

Judicial Commissioner Datuk Ahmad Shahrir Mohd Salleh dismissed the objection and fixed Oct 1 for case management should third parties come to challenge the forfeiture.