Over the longer term, Yong Tai being the master developer of Impression City development will benefit from the value created by Encore Melaka theatre’s collaboration with HRC World.
Under the fund-raising exercise, Malton’s controlling shareholder Tan Sri Desmond Lim Siew Choon and Qatar Investment Authority will inject fresh capital of RM277.25 million and RM406.7 million respectively through subscription of redeemable preference shares (RPS) in Regal Path Sdn Bhd, which will acquire a 49% stake in Pavilion Bukit Jalil Mall from Malton.
"There, Azlin gave me a letter which was signed by SRC director Nik Faisal Ariff Kamil dated June 3, 2011 [addressed] to Najib seeking for a loan of RM3.95 billion."
EPF said the purchase of the logistics property in Shirebrook had followed comprehensive due diligence and robust governance standards in line with the fund's investment policies.
"I didn't know what the money was for and I didn't know that the money was coming into IPSB's account," Shamsul said.
The two independent non-executive directors are Datuk Seri Abdul Azim Mohd Zabidi and Datuk Seri Azizan Ahmad.
“For example, to buy PLUS Highway, the Government has to fork out RM30 billion. To spend this amount, it is better for us to spend it on reducing our debt burden. So, at this juncture, we have not decided yet on what we're supposed to do in relation to toll,” said Dr Mahathir.
The contract is split into phases and will commence this month for a date of completion by October 2020.
The stronger profit was mainly due to higher contributions from two segments — property, and financial services and investment holdings — which offset lower contributions from its construction, industries and hospitality segments, it said in a stock exchange filing.
He testified during the trial that had he known the accounts were owned by the former premier, he would not have transferred the money to them.
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