News by Adam Aziz

Sunway said the land will be acquired by a proposed new joint venture (JV) company to be incorporated, in which Hoi Hup and SDPL will have an equity interest in the proportion of 65:35. SDPL’s cost of investment in the JV is S$65 million.

Ng is seeking the US lawyer's help to assist him with the affidavit reply.

In a filing yesterday, Eastland said it has aborted the cash call for two reasons — hiccups in the proposed development at the land it wanted to acquire, and that the amount raised may not be enough for company requirements. 

The committee will report directly to the prime minister, said the PMO in a statement yesterday. However, it has not underlined specific measures to address Malaysia’s debt burden. The committee, said the PMO, consists of five members with expertise in finance, economics, and law.

This confirms a report by The Edge Malaysia weekly on Oct 8, 2018 that HCK was seeking to take over the project, which has seen delays since it was first launched in 2012.

Goldman Sachs said that the charges against the bank are “misdirected”, and that it will “vigorously” defend against them.

The guarantee is in relation to an agreement between Star Media and JAKS’ unit, JAKS Island Circle Sdn Bhd, for the latter to develop a 15-storey tower in Petaling Jaya.

The jobs involve three drilling contracts and two contracts for the engineering and construction (E&C) segment, the group announced yesterday.

YFG said the notice of termination was served to its wholly-owned subsidiary YFG Engineering Sdn Bhd owing to some legal and financial issues, which currently affect the progress and sub-contractor of the project on the part of Atta Properties.

"The queries arose from Malaysia's inaccurate claim earlier in the day that this matter had only come to their attention two months ago (October 2018)," said Singapore's Ministry of Transport in a statement.