news

MACC opens six probes on Penang tunnel

The confirmation from MACC follows an article by blogger Raja Petra Kamarudin on the RM6.3 billion project. Raja Petra had alleged that several DAP leaders including Finance Minister Lim Guan Eng and Penang Chief Minister Chow Kon Yeow had received kickbacks from project contractor Consortium Zenith Construction Sdn Bhd.

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indepth

Sunway’s unbilled sales seen to provide good earnings visibility

The group’s property development division reported an FY18 revenue of RM619.6 million (-31.8% y-o-y) and profit before tax (PBT) of RM158.6 million (-32.6%) mainly due to the adoption of the Malaysian Financial Reporting Standards (MFRS) 15 whereby profits of property development projects in Singapore and China can only be recognised upon completion.

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