News by Emir Zainul

Genting Malaysia said Genting UK had entered into a share purchase agreement with Sonco UK BidCo Ltd for the purpose of the disposal which is expected to net it a gain of approximately £23 million.

The project was granted to YTL via a direct negotiation by the then Barisan Nasional government.

They expect yields of around 4%-5% due to an oversupply of the instrument in the market.  

The deal has been inked with Singapore's Hotel Royal Ltd to sell its Royale Chulan Bukit Bintang Hotel for RM197 million, cash, just over two weeks after the Ministry of Defence (Mindef) said the sale wasn't a done deal.

The land swap case is currently still under investigation by the Malaysian Anti-Corruption Commission. Losses in excess of RM500 million over 16 land swap projects involved 1,286 hectares of the Ministry’s land worth RM4.756 billion, and involving development costs of RM4.886 billion.

“It is a wrong move because Malaysia Airlines is our pride and joy. It should continue as our national airline. Almost every country has its own national airline, so we must have our national airline.”

"Go ahead, proceed with the investigation. For me this might just be another ploy to sway the attention away from the weakness of the government administration and the weakness of the ministers in their respective ministries."

"There will be a greater focus on a more balanced and inclusive regional development in order to reduce the gap among the states and between the urban and rural areas," he said.

His Majesty said the government realises that the rising cost of living is one of the challenges to improve the wellbeing of the people, and hence various initiatives have been implemented nationwide accordingly.

"The people today not only want development but also a clean, transparent and accountable government that upholds the rule of law, in order to spur the nation to greater heights," he said.