YTL Cement Sdn Bhd, a 98%-owned unit of YTL Corp, has acquired a 51% stake in Lafarge Malaysia. It has subsequently launched a mandatory general offer to Lafarge Malaysia’s minority shareholders for the remaining shares in the company at RM3.75 per share.

The development, which is also the first joint venture project between UDA, South East Johor Development Authority and IR Security, will be constructed in five phases.

Selangor Menteri Besar Amirudin Shari said the decision was made as an incentive and Aidilfitri gift for Selangor citizens.

Witness Afidah Azwa Abdul Aziz (pictured), who is the deputy secretary at the Ministry of Finance's strategic investment division, also told the court that SRC was seen defaulting its loan payments in 2015, 2016 and 2017, and it had to obtain a loan from the government to prevent an event of default.

Domestic Trade and Consumer Affairs Minister Saifuddin Nasution: They also agreed that they will apply to the ministry in case they want to increase the price of cement in future.

Finance Minister Lim Guan Eng: According to Bank Negara Malaysia’s (BNM) statistics, the level of household financial assets is 2.1 times that of household debts, giving them the necessary buffer to face any financial contingencies.

Khalid said the development of the Malaysia Youth City here would be a benchmark for other such cities in the future.

He said the government was working closely with the private sector and government-linked companies in addressing the matter, despite global economic challenges.

"He has publicly admitted to being the person in the video, and his actions have caused embarrassment to the party."

It was to cover interest, late payment penalty for RM4 billion KWAP loans.