News by TheEdgemarkets.com

The IRB filed the suit to claim the RM1.69 billion from Najib on June 25, after the former premier failed to respond to an initial enquiry by the board in March on additional tax assessments of RM1.47 billion.

In a joint statement by Ministry of Finance and Ministry of Economic Affairs, they said the Cabinet had met on Aug 14 this year and agreed to the reopening of registration on Sept 1, 2019. "This would be an opportunity for new Bumiputera contractors, especially the younger generation who are technically qualified to more actively participate in the construction industry, particularly in securing government projects," the ministries said.

This came as the lawyer representing Paragon Globe Bhd ex-chairman Datuk Tan Eng Boon, who has been instructed by the High Court to undergo a joint trial with the former territories minister for the case, is not available on that date.

The lawyer had put to the witness that the TDK group of companies were being run by their respective board members rather than the late Minister.

They said the difference of opinion is in respect of the interpretation of provisions of the shareholders agreement they inked dated June 8, 2015.

"We are encouraged by our first half results, despite having expired contracts, we have successfully secured new contracts worth approximately RM80 million in the first half of the year.”

Both companies will be jointly submitting a tender to the Energy Commission of Malaysia (EC) in the name of Fajarbaru-Gezhouba-Potential Region Consortium.

The project is to be completed by Aug 25 next year. 

"Beyond 2019, we expect cement prices to recover gradually, as construction activities pick up (expected by 1H20). However, we reckon that the expected pick-up next year will happen on a gradual basis as work contribution from mega project revivals may be partially offset by lower construction contract awards seen post GE14 and weak property sentiment."

Semantan Estates had in 2017 named the Malaysian government, federal lands commissioner, minister charged with the responsibility for land in the federal territory, natural resources and environment minister, director-general of the lands and mines department, director of lands and mines (federal territory) and federal territory registrar of titles as respondents.