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"There will be some changes on how we will tender it (LSS project), but it will be more innovative and hopefully drive the cost even lower."

Eonmetall said a JV company (JVco) named Sinaran Seribumi Sdn Bhd was formed between its wholly-owned subsidiary Eonmetall Land Sdn Bhd, with Kapar Holding Sdn Bhd and Kapar Land Sdn Bhd. Kapar Holding and Kapar Land are both in the business of manufacturing iron and steel products, as well property dealing.

At 9.19am, I-Bhd shed 0.5 sen to 37 sen for a market capitalisation of RM375.28 million.

“We regret that the unsubstantiated and irresponsible reporting by the media had led to further speculations and subsequent harassment of the individual,” said TRX City.

SRC had initially requested for a RM3.95 billion loan from KWAP in 2011. KWAP decided to only approve RM1 billion, citing the original requested amount as an 'overconcentration' of money to just one company in one industry.

Wan Abdul Aziz, 67, is the 45th prosecution witness to take the stand today and testify in the SRC trial as it enters its 35th day.

The 1MDB or Tanore trial is scheduled to begin on Aug 19 next month.

"The RM21.5 billion reduction in cost was achieved through a review of all engineering aspects [pertaining to the project] and value engineering that encompasses all aspects of the implementation of the project."

In Penang, Paramount will be also launching the third phase of its Utropolis Batu Kawan project, with an estimated GDV of RM240 million.

The property comprises a 43,560 sq ft leasehold land, together with a four-storey building and a three-storey annex with built-up floor area measuring 67,035 sq ft.