News about S

KUALA LUMPUR (July 10): The court was told yesterday the Minister of Finance is the Minister of Finance Inc (MoF Inc), based on the Ministry of Finance (Incorporation) Act 1975 (Act 375), read by the 44th prosecution witness, former treasury deputy secretary-general Datuk Mat Noor Nawi.

  KUALA LUMPUR (July 10): Pensonic Holdings Bhd said it is selling its commercial property in Petaling Jaya, comprising a land plot with buildings, for RM19.

  KUALA LUMPUR (July 9): The decisions to grant SRC International Sdn Bhd two government guarantees and transfer its ownership to the Ministry of Finance (MoF) Inc to strengthen its applications to borrow a total RM4 billion from the Retirement Fund (Incorporated) (KWAP) were “top-down”, said witnesses formerly with the Ministry of Finance (MoF).

KUALA LUMPUR (July 9): The SJK (C) Tai Thung (pictured) in Salak South here wants to halt a “possible land acquisition” within the “school’s grounds” to build another secondary school.

PETALING JAYA (July 9): The five-storey building that formerly housed the Seberang Prai Municipal Council (MPSP) headquarters is up for rent at at RM25,000 a month.

KUALA LUMPUR (July 9): Syarikat Dhaya Maju LTAT Sdn Bhd — a 80:20 joint venture between privately-held construction company Dhaya Maju Infrastructure (Asia) Sdn Bhd (DMIA) and Lembaga Tabung Angkatan Tentera (LTAT) — has won back the second phase of the Klang Valley Double Track (KVDT2) rehabilitation contract, 10 months after it was terminated.

KUALA LUMPUR (July 9): A witness from the Ministry of Finance testified that he was asked to sign a letter on behalf of the ministry, ordering the Retirement Fund (Incorporated) (KWAP) to release a RM2 billion loan to SRC International Sdn Bhd months before a government guarantee was issued, as the company needed the funds urgently.

KUALA LUMPUR (July 9): A senior official with the ministry of finance (MoF) testified yesterday that former prime minister Datuk Seri Najib Razak had ordered a memorandum detailing SRC International Sdn Bhd’s bid for a government guarantee to secure a RM2 billion loan from the Retirement Fund (Inc) (KWAP) in 2011 be prepared quickly.

KUALA LUMPUR (July 9): Bank Negara Malaysia (BNM) is unlikely to cut interest rate when the monetary policy committee meets today.

KUALA LUMPUR (July 8): The High Court has fixed July 31 for case mention of the government's civil forfeiture suit against OBYU Holdings Sdn Bhd to recover RM680 million worth of goods and property, during which the company would inform the court on its decision to challenge the gazette of the forfeiture notice.