News by Adam Aziz

It was widely reported that Tengku Adnan would face charges in relation to dubious land transactions between DBKL and Yayasan Wilayah Persekutuan (YWP), in which he was previously chairman.

"If he has to be trialed, he should be trialed. If he's charged and he's found guilty, then the rule of law will apply. If he's found innocent, then the rule of law will also apply," Dr Mahathir told CNBC in an interview published today.

TMG chairman Ng Ser Miang said the move will enable the group to attract investors preferring a pure healthcare company, leading to a wider investor base and improved liquidity for its shares.

It also said it will await further direction from the government in order to get a clearer picture on the implementation mechanism of the proposed REIT.

In allowing the transfer, Justice Nazlan said he took into consideration the keen public interest in the case and the high value involved. He also noted that the other case — comprising seven charges involving RM42 million in SRC International — has also been transferred to the High Court from the Sessions Court previously. 

Dr M: "I only know that the land was sold to Bank Negara. What happens after that, I don’t know. Where the money goes, I don’t know."

The new RM13.11 billion price tag for the underground portion excludes interest during construction, land acquisition costs and other costs, according to the MoF.

The Ministry of Finance, in a statement, said MMC-Gamuda KVMRT (T) Sdn Bhd will remain as the contractor for the underground portion of the MRT2 project.

Najib described the 1MDB-IPIC deals as “swapping assets with debts” and said that 1MDB will obtain US$6 billion in total from the series of agreements, without elaborating. He also urged the present government to disclose the settlement agreement to the public.

When asked if the diversion of the funds by Najib and Irwan breached any procedures, Muhammad Shafee said: “Not from my client’s perspective. This has been done many, many times before, even today. “At least two payments have been made by the current government to IPIC. So how did they meet the deadline?” questioned Muhammad Shafee.