Filed in February 2017 by Semantan Estates (1952) Sdn Bhd against the Federal Territory Registrar of Titles, the civil suit sought for the plaintiff to be registered as the proprietor of the land free of encumbrances and liabilities.
He said Kerjaya Prospek is aiming to launch two high-rise projects in the second half of next year, in Shah Alam and Dutamas, with an estimated gross development value of RM250 million and RM400 million respectively.
"The London Court decision, which allows for the issue of massive fraud that is of public importance to be first determined behind closed door private arbitration proceedings without public scrutiny, is not satisfactory to Malaysia."
For the full financial year ended March 31, 2019 (FY19), its net profit grew 20.85% to RM418.92 million, from RM346.65 million a year ago, buoyed by its property and infrastructure divisions, despite revenue declining 5.2% year-on-year to RM5.66 billion, from RM5.97 billion.
The group currently has 28 Aeon malls and 34 Aeon outlets.
"The property development segment is also expected to contribute positively to the group's earnings moving forward with the encouraging take-up rate in the group's property development project in Genting Permai."
The jump in net profit is attributed to improved contributions from its local tolls and port concessions, with its investment in a toll concession in Argentina also boosting the division.
Defence counsel Harvinderjit Singh, during his cross-examination of former KWAP chief executive officer Datuk Azian Mohd Noh, suggested that none of the personnel in the civil servants' retirement fund were pressured to approve the first RM2 billion loan to SRC.
In a stock exchange filing, ARB said its indirect wholly-owned unit Arbiot Sdn Bhd and IJV Ventures Sdn Bhd have inked a business contract to carry out the project.
The property developer attributed the improved earnings to better performance across all three segments, namely property development, property investment, and leisure and hospitality segments.
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