News by TheEdgeMarkets.com

Umno Kedah is among 41 entities which the Malaysian Anti-Corruption Commission (MACC) had filed forfeiture suits against to recover assets linked to 1MDB.

In a filing today, the developer said revenue for the quarter slipped to RM932.07 million from RM993 million previously as it had last year completed and handed over its Australian project Maison Carnegie, of which the revenue and profits were recognised on completion basis.

High Court judge Collin Lawrence Sequerah said he had no choice but to adjourn today's proceedings and vacate tomorrow's round of the trial as well, because Shahrol and Shafee's ailments are preventing them from attending hearings.

This follows Justice Mohamad Zaini Mazlan saying he is disinclined to grant an adjournment.

“The proposed divestment allows UEM Sunrise to immediately unlock the value of the property at a gain in line with market value, and free up the cash to enable the group to pursue other investments and venture opportunities,”

The occasion was celebrated with an intimate onsite ceremony attended by the mayor of Parramatta, Lord Mayor Bob Dwyer, EWI executive vice chairman Tan Sri Liew Kee Sin, and EWI president and chief executive officer (CEO) Datuk Teow Leong Seng.

Sources tell The Edge that Stadlen, who was charged in absentia for money laundering at a Kuala Lumpur Magistrate Court in February, had gone to Israel in the middle of this year and has not returned.

Seacera's stock exchange filing today showed that the four — Abdul Razak Jamaludin, Mohamad Safwan Abdul Malek, Rozaidi Baharudin and Rozana Ismail — have consented to their nomination.

Its unit, Pestech Sdn Bhd, received the letter of award last Friday, which is to last two years, the group said in a filing yesterday.

In a statement today, the department said sales value of the wholesale trade and motor vehicle sub-sectors rose 4.7% and 4.4% respectively.