The prosecution aims to show that former Federal Territories (FT) Minister Datuk Seri Tengku Adnan Tengku Mansor had received RM1 million as an inducement to assist a company to secure approval from Kuala Lumpur City Hall (DBKL) to increase the plot ratio for a development at Jalan Semarak here.

Deputy public prosecutor Julia Ibrahim, who is leading the prosecution team, said in her opening statement on the first day of Tengku Adnan's graft trial that evidence will prove he had assisted in securing the approval of an application by Nucleus Properties Sdn Bhd (now known as Paragon City Development Sdn Bhd), after several applications and appeals had been rejected by the Urban Development Planning Department of DBKL.

Prosecution in Ku Nan's trial aims to prove former FT minister got RM1m to help firm get higher plot ratio

KUALA LUMPUR: Former federal territories minister Datuk Seri Tengku Adnan Tengku Mansor (pic) has filed an application requesting High Court Justice Mohd Nazlan Mohd Ghazali to recuse himself from hearing the former’s RM1 million graft case which was scheduled to start yesterday.

This f...

Ku Nan wants judge to recuse himself from RM1m graft case

Former federal territories minister Datuk Seri Tengku Adnan Tengku Mansor has filed an application requesting High Court judge Mohd Nazlan Mohd Ghazali to recuse himself from hearing the former's RM1 million graft case scheduled today.

This followed Tengku Adnan claiming that the judge, who had fined a businessman RM1.5 million for abetting him in receiving the money, will not give the former minister a fair trial.

DAP leader Lim Kit Siang's defamation suit against former inspector-general of police (IGP) Tun Mohammed Hanif Omar over the latter's speech at a convention a year ago will go to trial in April next year after both parties failed to reach an out-of-court settlement.

High Court judge Datuk Azimah Omar has fixed April 13 to 16 next year to hear the case, after attempting to resolve the dispute between both parties last month.

Lim Kit Siang and former IGP fail to settle defamation dispute, case goes to trial

KUALA LUMPUR: Businessman Datuk Tan Eng Boon was fined RM1.5 million by the High Court here yesterday after he pleaded guilty to abetting former federal territories minister Datuk Seri Tengku Adnan Tengku Mansor in receiving a RM1 million bribe.

Justice Mohd Nazlan Mohd Ghazali ordered ...

Developer fined RM1.5m for abetting Tengku Adnan in RM1m bribery case

KUALA LUMPUR: Datuk Amhari Efendi Nazaruddin, a key prosecution witness in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial involving former premier Datuk Seri Najib Razak, initially disagreed that the Terengganu Investment Authority (TIA) was mooted by Terengganu ruler Sultan Mizan Zaina...

1MDB-Tanore trial witness now agrees TIA mooted by former Agong, not Najib

Datuk Amhari Efendi Nazaruddin, one of the key prosecution witnesses in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial involving former premier Datuk Seri Najib Razak, initially disagreed that the Terengganu Investment Authority (TIA) was mooted by Terengganu's ruler Sultan Mizan Zainal Abidin's when he was the 13th Yang di-Pertuan Agong.

1MDB-Tanore trial witness insisted 1MDB was Najib's 'baby' — before defence changed his mind

Businessman Datuk Tan Eng Boon was fined RM1.5 million by the High Court here after he pleaded guilty to a charge for abetting the former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor in receiving a RM1 million bribe.

If Tan fails to pay the fine by tomorrow, he would have to serve a default sentence of one year in prison, High Court Judge Mohd Nazlan Mohd Ghazali ruled.

Property developer fined RM1.5m for abetting Ku Nan in RM1m bribery case

There is a new twist to the bid for Datuk Seri Najib Razak and his lead counsel Tan Sri Muhammad Shafee Abdullah to remove Datuk Seri Gopal Sri Ram from prosecuting the former Prime Minister in the 1Malaysia Development Bhd (1MDB)-Tanore case.

The Attorney-General's Chambers (AGC) intends to challenge the decision by the Court of Appeal that granted leave to Najib and Shafee to start a judicial review application to remove Sri Ram, a former federal court judge, from the eight-member prosecution team

AGC to appeal against leave granted to Najib and Shafee to remove Gopal Sri Ram

The High Court fixed Nov 8 to hear the application filed by the Inland Revenue Board (IRB) to obtain a summary judgment against former Prime Minister Datuk Seri Najib Razak regarding the alleged RM1.69 billion taxes that he owes.

The date was set for the hearing of Najib’s application to stay the proceedings pending the outcome of the appeal on the tax assessment as well.

High Court sets Nov 8 to hear IRB's summary judgment application and Najib's stay application on RM1.69b tax

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

YNH aborts sale of Segambut land, appoints Chin Hin Group Property to develop it instead

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.

TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.

CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sepangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.

Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.

High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

MOF: Meeting with 70 fund investors highlights Madani govt’s action to spur strategic investments

In today’s edition of Evening 5: 00:00 MYAirline loses licence to operate 01:41 New developments, new board to be announced for DNB 02:59 Fernandes to be CEO of Capital A for five more years 04:09 ACE Market-bound Farm Price eyes Singapore expansion05:33 Suria KLCC shrugs off the competition

EVENING 5: MYAirline runs out of time, loses licence to operate

The prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.

Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 24)

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

MYAirline loses licence to operate as commercial airline as CAAM revokes AOC

JASMINE Loo was the third individual wanted by the authorities, on the Interpol Red Notice list, &nbsp;to return to Malaysia.

More than 10 years on from the first signs of trouble at 1Malaysia Development Bhd (1MDB), there are still a number of individuals who remain on the run, sought ...

Most yet to return to face the music

Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.

Carlsberg Malaysia raises prices of beers to preserve margin

French electronic manufacturing service firm eolane has launched a new manufacturing plant in Kulim Hi-Tech Park, Kedah involving an investment of €8.7 million (RM45 million) for the first phase of the project.

France-based eolane launches RM45 mil facility in Kulim Hi-Tech Park

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

Bursa Malaysia closed at a two-year high on Wednesday with the key index rising 0.63%, driven by a positive outlook on the local bourse and amid an upbeat performance by regional peers.&nbsp;

Bursa races to two-year high as investors turn bullish

Tan Sri Muhammad Ikmal Opat Abdullah, founder and controlling shareholder of Widad Group Bhd, has continued to trim his stake in the construction company as well as in IT products and services firm Dataprep Holdings Bhd.

Muhammad Ikmal continues to trim stake in loss-making Widad, Dataprep 

OYO plans to add 100 self-operated hotels in Malaysia in 2024 and will be looking to secure annual to long-term management contracts on a revenue-sharing basis for these properties. This is part of OYO's programme aimed at fostering economic growth in communities via partnerships.&nbsp;

OYO plans to launch 100 self-operated hotels in Malaysia for 2024, with the first in Kota Damansara

The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.

MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

Gold’s record-setting rally may have its roots in Chinese frenzy

Several important developments related to Digital Nasional Bhd (DNB), including the appointment of its board members and the direction of the agency, will be announced on Thursday, said Communications Minister Fahmi Fadzil.

Digital minister to unveil DNB board, announce new developments tomorrow — Fahmi

Mah Sing Group Bhd's land acquisition for its third development in Setapak,&nbsp;Kuala Lumpur, namely M Azura, has become unconditional. The developer has three months to pay the balance purchase price of about RM59 million. The land for M Azura was acquired on Dec 8, 2023 for a total cost of RM74.3 million.

Mah Sing's land acquisition for M Azura has become unconditional

Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.

World’s biggest energy traders are returning to metals

The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.

Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by Bloomberg News.

Chinese metal tycoon’s heir buys US$62m Singapore mansion

KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.

Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

The son of a menteri besar is among six individuals remanded by the Malaysian Anti-Corruption Commission (MACC) here to assist in investigations regarding a case of submitting false documents and claims involving RM600,000 over the past two years.

MB's son among six remanded over document forgery, false claims involving RM600,000

Perlis Menteri Besar&nbsp;Mohd Shukri Ramli confirmed that he knew about his son being arrested by the Malaysian Anti-Corruption Commission (MACC),&nbsp;and will leave it to the authorities to complete their investigation.

Perlis MB knows about son's arrest, leaves it to MACC to investigate

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London&nbsp;has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

Paw Ai Chin

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