“Their fraud goes to the heart of the capital markets, and if no criminal proceedings are instituted against the accused their undermining of our financial system and market integrity will go unpunished.”
In a statement today, Dewan Rakyat Speaker Datuk Mohamad Arif Md Yusof said he had been notified by the Election Commission (EC) chairman via a letter that the incumbent Datuk Sivarraajh Chandran had not made his final appeal against the court ruling within the stipulated date of Dec 14.
While it has in the past paid hefty fines in several countries over wrongdoings and employees have been charged criminally, this is possibly the first time that any country has filed criminal charges against the US investment banking giant itself.
"This is a special circumstance case where there is a probability that the applicant will abscond," said Judge Collin Lawrence Sequerah in dismissing Ng's application.
"Flight procedures for both directions are necessary because aircraft land and take off into the wind. In this region, winds blow from a north-easterly direction for half of the year, and a south-westerly direction for the other half of the year. Therefore, flight procedures for a southerly approach cannot safely replace all flight procedures for the northerly approach," said Singapore's Transport Ministry.
The Singaporean Ministry of Foreign Affairs also welcomed Malaysia's agreement to its proposed meeting of both countries' officials in the second week of January next year to exchange views on resolving the issue of Johor Bahru Port's limits.
The 13-storey hotel is scheduled to open in late 2019 and will offer 238 rooms.
The successful bidder could take possession of the yacht in the next two to three weeks.