MRCB's LRT3 progress billings expected to pick up in 2H
Malaysian Resources Corp Bhd (Aug 27, 72 sen) Maintain hold with a lower target price (TP) of 74 sen: Malaysian Resources Corp Bhd’s (MRCB) net profit of RM15 million (-72% year-on-year [y-o-y]) for the cumulative six months of financial year 2019 (6MFY19) is only 11% to 16% of the market consensus and our previous FY19 forecast of RM94 million to RM137 million.
Sri Ram's opening statement at Najib's 1MDB trial
KUALA LUMPUR (Aug 28): The following is appointed prosecutor Datuk Seri Gopal Sri Ram's opening statement at Datuk Seri Najib Razak's 1MDB trial, reproduced in full: 1.
1MDB trial: Jho Low was Najib's "mirror image", says prosecution
KUALA LUMPUR (Aug 28): Former premier Datuk Seri Najib Razak (pictured) played a pivotal role in amending the 1Malaysia Development Bhd (1MDB) articles of association in order to put him in position of control of the company in a bid to enrich himself, said the prosecution in his 1MDB trial.
SRC trial: Zeti and Nor Mohamed among 66 witnesses offered by prosecution to defence
KUALA LUMPUR (Aug 27): The prosecution in former premier Datuk Seri Najib Razak's SRC International Sdn Bhd trial has offered 66 witnesses to the defence after closing its case today.
Court fixes judge to hear Najib's bid to remove Sri Ram
KUALA LUMPUR (Aug 27): Datuk Seri Najib Razak's application to remove Datuk Gopal Sri Ram (pictured) from prosecuting the former prime minister in the 1Malaysia Development Bhd (1MDB) case will be heard by Justice Datuk Seri Mariana Yahaya, the High Court decided today.
Invesco's Jalil to helm PNB
KUALA LUMPUR (Aug 27): Jalil Rasheed (pictured), the investment director for the Singapore office of UK-based fund manager Invesco, is set to assume the group chief executive seat at Permodalan Nasional Bhd (PNB).
Kevin Morais not involved in SRC probe, court told
KUALA LUMPUR (Aug 27): The late deputy public prosecutor (DPP) Datuk Anthony Kevin Morais was not involved in investigations into the embezzlement of funds from former 1Malaysia Development Bhd (1MDB) subsidiary SRC International Sdn Bhd, the High Court was told today.
Gagasan Nadi Cergas posts net profit of RM6.88m in 2Q, declares maiden 0.5 sen dividend
KUALA LUMPUR (Aug 27): Gagasan Nadi Cergas Bhd expects its construction tender book to exceed RM1 billion from RM700 million as at January 2019, as the group has been successfully pre-qualified in more public sector tenders.
Najib's daughter questions RM10.3m tax bill on income from hubby
KUALA LUMPUR (Aug 27): Former prime minister Datuk Seri Najib Razak's daughter Nooryana Najwa (pictured) has questioned the Inland Revenue Board (IRB)'s RM10.
