News by Adam Aziz

“According to the airlines, even though the government has relaxed the social distancing rules, flight ticket prices may not drop immediately. They must ensure there is continuous and stable demand before airfares can return to normal as seen before the Covid-19 outbreak."

In a statement today, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the effective recovery of 1MDB assets remains a key priority for the Malaysian government. 

The realignment, which could affect 25% of the entire 640km ECRL track, is centred in the last section, Section C, which will see the scope switched from Putrajaya-Port Klang to the original route of Gombak-Port Klang.

“Khazanah has shown resilience and tenacity in these trying times to achieve significant progress in delivering on its mandate to grow Malaysia’s long-term wealth.

“It is these characteristics that will also enable us as a country to overcome the challenges posed by the Covid-19 pandemic.”

The dispute arose from a 2009 land sale agreement for the Jeju Airest City project, which was inked between South Korea’s Jeju Free International City Development Center (JDC) and Berjaya Jeju Resort Ltd (BJR).

Gamuda said the MCO, imposed on March 18 to halt the spread of the Covid-19 pandemic, caused work stoppages and reduced traffic volume across its four expressways, as a result of which the group recorded its lowest quarterly revenue since 1QFY17.

YNH expressed plans to launch two high-rise projects this year with gross development value of RM700 million each in a parcel in Genting Highlands, as well as in Dutamas.

Quarterly earnings per unit rose to 1.85 sen, from 1.81 sen for 1QFY19, as net profit climbed 1.94% to RM19.79 million from RM19.41 million.

At 10:36am, YNH shares pared gains at RM3.30 with some 14,000 shares traded. At RM3.30, the group is valued at RM1.74 billion.

"The board of directors and leadership team of PNB conveyed their appreciation to Jalil for his leadership and contributions during his tenure with PNB. PNB wishes Jalil every success in his future endeavours," PNB said.