YNH Property expects RM305.9 mil net gain from Jalan Sultan Ismail land sale

PETALING JAYA (July 11): YNH Property Bhd (YNHP) has provided additional disclosures on its RM455 million disposal of a freehold commercial development parcel along Jalan Sultan Ismail in Kuala Lumpur, including details on the property’s valuation, audited net book value, estimated gain on disposal and key terms of the redeemable preference shares (RPS) forming part of the consideration.

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MACC probing alleged US$13 mil luxury property tied to 1MDB funds

PUTRAJAYA (July 9): The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into the alleged ownership and transfer of a luxury property overseas estimated to be worth US$13 million (RM59 million), believed to be linked to proceeds from the illegal misappropriation of funds from 1Malaysia Development Bhd (1MDB).

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