The report said the region’s population of ultra high net worth individuals (UHNWIs) with at least US$30 million of assets gave away a combined US18.8 billion or 0.19% of their fortune to charities in 2018 while their North Americans and Europeans counterparts parted with 0.65% and 0.56%, respectively.
To keep up with the increased traffic to the area as more and more high-rise developments spring up, residents want Jalan Sentul to be upgraded.
During his examination-in-chief by defence lawyer Rahmat Hazlan today, Najib testified that King Abdullah had donated US$800 million through a series of transactions from Tanore Finance Corp into his AmBank account in early 2013, as a "gift that I can spend at my absolute discretion".
"I never directed the board of directors on the same matter. I was not in any position to micro-manage any MoF Inc company, including SRC. Furthermore, SRC was not the only MoF Inc company that [was] involved in national interest at that time. There was no reason for me to direct the SRC board of director through Nik Faisal," he said.
The original copies of these documents were, however, not tendered as evidence before High Court judge Mohd Nazlan Mohd Ghazali.
Royasmin said the information was obtained when she was instructed to prepare a remittance application form from the charity foundation.
Sources told Bloomberg the move is partly to help fund the US$33.5 billion Bandar Malaysia project in Kuala Lumpur.
His lead counsel Tan Sri Muhammad Shafee Abdullah told a press conference that two of these unnamed individuals were from Saudi Arabia while the other two were from Abu Dhabi.
Despite the increase, Knight Frank believes that Kuala Lumpur’s overall office market remains under pressure, with high impending supply and landlords continuing to offer attractive lease packages to retain or attract tenants.