With the agreed cost reduction for the underground portion now, this means that the overall MRT2’s construction cost will have been reduced by RM8.82 billion or 22.4% to RM30.53 billion, from RM39.35 billion previously.

Bernama today said the palace had stripped Najib of the Darjah Seri Utama Negeri Sembilan title and Rosmah of the Darjah Seri Paduka Tuanku Ja'afar Yang Amat Terpuji with immediate effect.

"The meeting will provide an opportunity for both sides to discuss strengthening bilateral relations between Malaysia and the Kingdom of Saudi Arabia and exchange views on various international issues of mutual interest,”said Wisma Putra.

Najib described the 1MDB-IPIC deals as “swapping assets with debts” and said that 1MDB will obtain US$6 billion in total from the series of agreements, without elaborating. He also urged the present government to disclose the settlement agreement to the public.

According to a statement by PKB, a joint venture company between I&P Group Sdn Bhd, Lembaga Tabung Angkatan Tentera (LTAT) and Lembaga Tabung Haji (TH), the land has always been earmarked for development.

When asked if the diversion of the funds by Najib and Irwan breached any procedures, Muhammad Shafee said: “Not from my client’s perspective. This has been done many, many times before, even today. “At least two payments have been made by the current government to IPIC. So how did they meet the deadline?” questioned Muhammad Shafee.

Najib, Irwan Serigar charged with misusing RM6.3 billion to pay IPIC and Chinese contractors.

The move is aimed at streamlining the group’s campus assets.

“My conscience is clear,” Najib told the media about his partaking in the decision to divert the funds.

Supporters have hailed it as an engineering triumph but detractors say it is a politically driven and costly white elephant that is part of an attempt by Beijing to integrate semi-autonomous Hong Kong into the mainland.