Ball in Najib’s court in IRB’s tax suit; case management set for July 25
KUALA LUMPUR (July 9): A claim filed by the government seeking RM1.
Loan given out before govt guarantee issued as SRC needed second RM2b loan ‘urgently’
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.
Economists see no OPR cuts just yet
KUALA LUMPUR (July 9): Bank Negara Malaysia (BNM) is unlikely to cut interest rate when the monetary policy committee meets today.
OBYU to let court know if it objects to forfeiture notice on July 31
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.
MoF: IRB's voluntary disclosure scheme induces 486,360 taxpayers to reveal undeclared income
KUALA LUMPUR (July 8): The Inland Revenue Board of Malaysia (IRB)'s special voluntary disclosure programme (SVDP) has as at June 23 this year induced 486,360 taxpayers to reveal their undeclared income to the government, according to the Ministry of Finance (MoF).
None of SRC's money went to Nik Faisal's account, argues prosecution
KUALA LUMPUR (July 8): The prosecution has argued that none of the money that were transferred from SRC International Sdn Bhd's bank account went into former managing director Nik Faisal Nik Ariff Kamil's bank account, despite the defence's assertions that witness Datuk Suboh Md Yassin's signatures on the bank transfer documents were forged by Nik Faisal.
Cabinet to decide on local govt elections by year end
KUALA LUMPUR (July 8): Malaysia will not implement local government elections until the Cabinet decides on the matter by end of this year, says Deputy Housing and Local Government Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad Baharuddin Shah today.
Kenari Maluri allowed to intervene in Semantan Estates dispute
KUALA LUMPUR (July 8): Kenari Maluri Sdn Bhd — a company which claims to represent the majority of Semantan Estates (1952) Sdn Bhd's shareholders — has today been allowed by the High Court here to intervene in Semantan Estates' judicial review application.
Completion deadline for Sabah portion of Pan Borneo Highway under review
KUALA LUMPUR (July 8): The government is still reviewing the completion date for the Sabah section of Pan Borneo Highway.
MoF: May 2019 bank loan approvals jump 13% after BNM OPR cut
KUALA LUMPUR (July 8): Malaysian banks' loan approval rate increased 13% in May this year from a month earlier after Bank Negara Malaysia (BNM) cut the overnight policy rate (OPR) by 25 basis points to 3% from 3.
