News by TheEdgemarkets.com

Lawyer Mohd Haniff Khatri Abdulla is seeking clarification on whether the ministry allows an appeal against the cancellation of the project, or if the company will be required to appear before the ministry.

Given that the High Court does not have any more free dates this year, Justice Sequerah set a total of 24 days for the trial in June and July 2020.

The bench, led by Federal Court judge Justice Tan Sri Azahar Mohamed, ruled that High Court judge Justice Collin Lawrence Sequerah had used his discretion judiciously and that the appellate court would not interfere unless the judge applied or used a wrong law principle.

The group's property development division managing director, Sarena Cheah, said the group plans to launch RM2 billion worth of projects for FY19. "We are confident that the launches would continue to do well as more than 70% of the new launches are either in integrated developments or townships," she added.

IOI attributed its lower quarterly earnings to lower operating profit and total net forex losses on foreign currency borrowings and deposits, amounting to RM26.7 million.

The 20-year loan was originally received by NFCorp on Jan 8, 2008, at an interest rate of 2%, with a grace period of three years. 

According to a statement, chief executive officer Datuk Wira Boo Kuang Loon said that he is raising his stake in the group, which currently stands at 12%, via special purpose vehicle (SPV) Domain Capital Sdn Bhd (DCSB) which will subscribe to 100 million new shares in the group.

In December 2018, EcoFirst had proposed to subscribe for a 20% stake in Geo Valley for RM13,333.46, followed by an acquisition another 50% stake for RM44 million from Geo Valley shareholders.

In a statement today, Standard Chartered Malaysia said it has passed the entire benefit of the cut to all its existing home loan customers, who will receive the benefit with immediate effect.

The ministry said it is spending RM99.19 million to subsidise RON95 and diesel fuel during this period.