News by theedgemarkets.com

In its filings with Bursa Malaysia, IOI Corp also announced that chief executive officer (CEO) Datuk Lee Yeow Chor will be redesignated as the group’s managing director.

It was to cover interest, late payment penalty for RM4 billion KWAP loans.

Meanwhile, Works Minister Baru Brian said the potential rise in cement prices was a concern, as it would have an impact on the domestic construction industry.

The group is also planning to relocate some of its theme park rides and attractions at i-City, Selangor, in order to free up land for property development. 

"Possibly, now, the board member would have to resign or be removed," said Ismee.

Ooi said these downside come from a challenging property market, higher political risk premium for the construction stocks and abrupt suspensions of mega projects.

"He holds a degree in economics and accounting from the University of Bristol, United Kingdom," BNM said.

At the Kuala Lumpur Court Complex today, Rosmah's lawyer Datuk Geethan Ram Vincent requested High Court judge Mohamed Zaini Mazlan for a stay compliance to reply to the asset declaration notice pending his client's appeal.

Rosmah was here in court to attend her case mention for a money laundering charge at another High Court before Justice Mohamed Zaini Mazlan.

On the 50-acre commercial land owned by MBNSI, the project will comprise shop lots, commercial podiums and residential units.