PetroSaudi still owes 1MDB up to US$2.2b as of 2015, court told
KUALA LUMPUR (Nov 5): Datuk Shahrol Azral Ibrahim Halmi, former CEO of 1Malaysia Development Bhd (1MDB), says today PetroSaudi International Ltd (PSI) has accumulated "around US$2.
Judge who issued open verdict over Beng Hock's case to be charged with corruption
KUALA LUMPUR (Nov 5): The Sessions Court judge, Azmil Muntapha Abas, who had presided as a coroner in the highly-charged inquest into the death political aide Teoh Beng Hock 10 years ago, will face a corruption charge tomorrow.
Tycoon Chen Lip Keong holds 92.14% of Karambunai shares as offer closes
KUALA LUMPUR (Nov 5): Tan Sri Dr Chen Lip Keong and the parties acting in concert in the offer for Karambunai Corp Bhd (KCB)’s shares have ended up with 5.
Mara Digital Mall to be slightly more multiracial
KUALA LUMPUR (Nov 5): Mara Corp chairman Akhramsyah Muammar Ubaidah Sanusi wants Mara Digital Mall to step away from its racial issue origin by letting traders have more freedom in choosing suppliers and adopting new technology, Free Malaysia Today reported today.
Despite ‘zero governance’ of 1MDB-PetroSaudi JV, partnership continued to maintain ‘strategic relationship’
KUALA LUMPUR (Nov 5): The High Court here was told that the joint venture (JV) between 1Malaysia Development Bhd (1MDB) and PetroSaudi International (PSI) in 2009 had “zero governance”, yet the former persisted in partnering with the latter to preserve their “strategic relationship”, a witness said.
Seacera shareholders holding 2.5% stake propose appointment of six new directors
KUALA LUMPUR (Nov 4): Four shareholders of Seacera Group Bhd have issued a notice of resolutions to be moved at the group's 34th annual general meeting (AGM) on Nov 29, entailing the nomination of six new directors to the board.
DBKL seals off and 'takes back' community hall in Setapak
KUALA LUMPUR (Nov 4): City Hall (DBKL) is cracking down hard on managements who are adamant about giving back community halls here.
Parcel quit rent should be calculated based on market conditions, say stakeholders
PETALING JAYA (Nov 4): Key industry stakeholders have raised concerns over the high rates resulting from the introduction of parcel quit rent for stratified properties.
Rise in minimum wage seen too sudden, too soon
KUALA LUMPUR (Nov 4): Employers say they have been caught by surprise by the government’s recent announcement that the minimum wage in major cities will be raised to RM1,200 from RM1,100 currently, given that a revision was just made at the start of the year.
Media Prima: Staff affected by restructuring will receive fair compensation
KUALA LUMPUR (Nov 2): Media Prima Bhd says it is embarking on the next phase of its business transformation exercise and that all affected employees will receive a fair and equitable compensation package.
