News by Wong Ee Lin

The property, together with ancillary buildings, is presently built upon a portion of leasehold land, with an unexpired 35 years and five months sub-lease term, the REIT said.

"I believe that there is a huge moral hazard in having private entities own such strategic assets with the backing of government guarantees."

"The money that we generate from the sales of assets will then be reinvested into other assets, and we want to make sure that it gives a better return and profit to Khazanah and subsequently will be able to give dividends to the government."
 

Doing so may also lead to price increases and profiteering again on top of the government being accused of flip-flopping on its policies and causing the loss of business confidence.

“It’s just mismanagement, there’s no criminal intent.”

Ho Hup said it will benefit from the interest savings generated from the utilisation of proceeds raised from the proposed exercise for partial repayment of borrowings, as well as working capital for its construction projects.

In a bourse filing today, TRC Synergy Bhd said its wholly-owned subsidiary TRC Land Sdn Bhd has today received a withdrawal of the notice of termination by Perbadanan Putrajaya.

The sum of RM2.97 million is the amount owed for the goods delivered and services provided by Ipmuda. 

He is also offering three sen apiece for the remaining 523.5 million warrants — 51.57% of the outstanding warrants he does not hold.

IHH said its wholly-owned unit, Pantai Holdings Sdn Bhd (PHSB), has signed a conditional share purchase agreement with Pulau Memutik Ventures Sdn Bhd (PMV), a wholly-owned subsidiary of Khazanah Nasional Bhd, for the acquisition of the stake comprising 100 million shares and 35,176 redeemable preference shares. PMV holds a 26.04% stake in IHH