MBSB Bank Bhd will abide by the latest security measures announced by Bank Negara Malaysia (BNM) to safeguard against financial scams, especially via online transactions.

Ivory Properties Group Bhd, which is based in Penang, announced on Tuesday (Sept 27) that a third subsidiary has defaulted on a loan payment, this time for a sum of RM39 million to Malayan Banking Bhd (Maybank), which was raised to part finance the purchase of land for a project.

Launched in 2013, Setia EcoHill has a GDV of RM4 billion and is expected to be completed by 2026.

Beng Teik, 60, is also currently executive chairman of Ajiya Bhd, as well as non-independent non-executive chairman of Chin Hin Group Property Bhd and Signature International Bhd.

Two of the packages are Package 27 that involves an 8.1km road from Kampung Lot M to Batu 32 Sandakan and Package 21, which is the 7km Lahad Datu Bypass.

"[We plan to] leverage existing assets to attract foreign and domestic visitations."

The factories have a combined gross development value of RM213 million.

He said the flash flood mitigation measures in the capital had undergone audit procedures and that some of the mitigation measures had been completed, while others were underway.

"In a housing project, usually the developer will only build a retention pond and a drain, from which water will flow into a not properly maintained monsoon drain. When it is not maintained and water volume increases, the monsoon drain that was built 10 to 20 years ago will not be able to cope with the increased flow.”

The lawyer who represents former Malaysian Bar president Datuk Ambiga Sreenevasan and seven other residents have decided to file a lawsuit suit to compel the Kuala Lumpur City Hall (DBKL) and the Federal Territories Ministry to provide further information on its flood mitigation measures.