News about MP

MRCB said the project was awarded to its wholly owned subsidiary, Lembaran Prospek Sdn Bhd, and will span a development period of 48 months.

The acquisition will turn Empire Resorts, the operator of Resorts World Catskills, Resorts World Hudson Valley, and Resorts World Bet in New York, from being GENM's 49%-owned associate to a fully-owned subsidiary.

The decision follows consultation with legal counsel Eric Tan of Messrs Ong Kok Bin & Co, as there are concerns that proceeding with the requisition could expose the company and its board to potential contempt of court proceedings.

Located in the Tun Razak Exchange (TRX), the 26-storey hotel will feature 466 rooms.

The plaintiffs are seeking a declaration that the requisition notice was not issued bona fide, and is therefore null and void.

The transaction, announced by Genting Malaysia on Friday via a bourse filing, will result in Empire Resorts becoming an indirect wholly owned subsidiary of Genting Malaysia, via Genting ER Ltd.

The first attempt to remove the board, involving a 10-member shareholder group, failed after the requisition was rejected in the same month.

The Kampung Sungai Baru redevelopment project, which includes flats and terrace houses, has sparked controversy due to demands from some residents, who are not satisfied with the compensation offered.

“Make sure that what is advertised is already in the sale and purchase agreement (SPA).

Vun was the former MD and shareholder of FTEC Resources Bhd, which morphed into Tecasia Bhd and later Mangotone Bhd, before being delisted in 2010.