MARC said given Masteel relatively modest market position in the production of steel billets and steel bars, which are mainly for local consumption, these factors have weighed on its profitability margins.
This was revealed by appointed public prosecutor Datuk V Sithambaram during the re-examination of 54th prosecution witness Joanna Yu, the former AmBank relationship manager who was Low Taek Jho's go-to person in the bank when it comes to the management of accounts belonging to Najib and SRC International Sdn Bhd.
Yayasan Penyelidikan Transformasi is also known as the Transformation Research Foundation while K&Z is a fabric supplier to the government.
"Who is OP?" asked Sithambaram.
Yu replied: "To my understanding OP was a term — Optimus Prime, I don't know — to refer to the Prime Minister."
FGV filed a lawsuit against Mohd Emir and Isa Samad relating to the purchase of a luxury condominium at Troika, KLCC, which the group claimed was bought at an inflated price by the two.
Yesterday, MGB said its wholly-owned subsidiary Sinaran Kencana Sdn Bhd has entered into the JVA with Aset AZG Sdn Bhd, which is the owner of the tract.
In a filing with Bursa Malaysia yesterday, SUNREIT — the assets of which include shopping malls and hotels — said the net revaluation surplus stood at RM108 million, after taking into account capital expenditure of RM65 million, based on the REIT's unaudited results for financial year ended June 30, 2019 (FY19).
"It will be unlikely there will be any new tax measures [announced in Budget 2020], but definitely I would rule inheritance tax out, for the foreseeable future."
"SVDP only covers taxation laws; it doesn't cover criminal laws. It doesn't mean people like Jho Low can come and declare their unreported income and everything is cleared."
The BBM transcript showed an exchange between Yu and Jho Low, where Yu tweaked the date of the instruction letter from Dec 24, 2014 to Dec 29, 2014.
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