KUALA LUMPUR: The Federal Government is still servicing the RM4bil loan taken by SRC International Sdn Bhd from Retirement Fund Inc (KWAP) due to the company’s failure to pay its debt. “Based on the agreement between SRC International and KWAP, the loan would be settled in 2022, which is 10 years from the year the loan was disbursed in 2012,” she said here Wednesday (June 19). The witness was reading from her witness statement at the corruption trial of former prime minister Datuk Seri Najib Razak, who faces seven charges relating to misappropriation of RM42mil in SRC funds. “But for SRC International, its loan was for the purpose of investments which it should have gained profits from. As of May this year, the witness said the balance from the interest and principal loan taken up by SRC from KWAP – which is currently financed by the government – stood at RM4.15bil.
June 19, 2019 06:56 UTC
PUTRAJAYA: The Domestic Trade and Consumer Affairs Ministry will meet with the Finance Ministry this month to finalise the targeted fuel subsidy scheme. Minister Datuk Seri Saifuddin Nasution Ismail said the meeting would finalise all things related to implementation, policy, financial implication, data and processes related to the scheme. Saifuddin, however, said the date for when the targeted fuel subsidy scheme would be implemented had yet to be decided. "After the meeting, I will present a Cabinet paper to finalise the date. The targeted fuel subsidy scheme was announced during the presentation of Budget 2019.
June 19, 2019 06:22 UTC
The QS World University Rankings are the most-widely read and referred platform for university rankings in the world and the success of Sunway University globally enhances the worldwide reputation of education in Malaysia. “I am delighted with the news that Sunway University has now been placed in the QS World University Ranking. Sunway Education Group CEO, Dr Elizabeth Lee (right) and Sunway University vice-chancellor Prof Graeme Wilkinson. On the international front, Sunway University partners with Lancaster University and Le Cordon Bleu to validate and accredit relevant programmes. “Lancaster University is delighted to see our partner Sunway University enter the world league tables for the first time.
June 19, 2019 04:18 UTC
PUTRAJAYA: PKR vice president Zuraida Kamaruddin will propose that the party's Santubong youth chief Haziq Abdullah Abdul Aziz, who is in the centre of a sex video controversy, be sacked. She will be making the proposal at the party's political bureau meeting scheduled for 5.30pm on Wednesday (June 19). The meeting will be chaired by PKR president Datuk Seri Anwar Ibrahim. "I will propose that the party sack him at the political bureau meeting later this afternoon," she said to reporters on Wednesday. He also claimed that the other person was Datuk Seri Azmin Ali, the Economic Affairs Minister.
June 19, 2019 04:07 UTC
SIBU: A 48-year lance corporal shot himself dead in front of his shocked colleagues at the Bintulu police station early Wednesday (June 19). Bintulu OCPD Supt Zulipli Suhaili said in the early morning incident, the deceased was with four other police officers who had just reported for duty for the 12.05am-8am shift. According to Supt Zulipli, the deceased, who had been assigned to the Bintulu police station since January 1, 2007, had previous disciplinary records. Supt Zulipli said the deceased was subsequently suspended from duty after receiving the sentence. "He was also given counselling on Aug 16 and 17, 2018, at the station," he added.
June 19, 2019 03:45 UTC
FELDA’s land is public land while the settlers are FELDA settlers with or without FGV. With the massive mismanagement at FELDA, it leaves little hope for a better future for the settlers and their next generation. But the cooperative is run by FELDA officers with little involvement of the smallholders, who merely use the cooperative’s facility. The settlers have been getting a Hari Raya bonus every year since 2003 from the profits made by FELDA. Tan Sri Mohd Isa Abdul Samad was appointed chairman of FELDA as well as its three important subsidiaries — FGV, Felda Investment Corporation (FIC) and FIC Properties.
Source:The Edge Markets
June 19, 2019 03:33 UTC
At the time of writing, the custom Indomie Nike design by Mr. Simply Custom has garnered more than 5,000 likes on Instagram, as well as a slew of approving tweets. “For the Indomie custom design, I was actually inspired by a Photoshop rendition posted by @arifwhy on Instagram a week ago. “I just thought it would be cool to have an actual pair of Air Jordans with the Indomie design. He said the custom Indomie Air Jordans would be displayed at the Indonesia Comic Con this October.
June 19, 2019 03:10 UTC
After the game, Venezuela coach Rafael Dudamel sang the praises of the technology, which has saved his side on four occasions so far. Peru were also denied two goals by VAR in their opening 0-0 draw with the Venezuelans. Brazil lead the group on four points ahead of Peru, who beat Bolivia 3-1 earlier in the day and also have four points. Brazil meet Peru in their final group game on Saturday with both sides needing only a draw to seal their place in the quarter-finals. Venezuela have two points while Bolivia are without a point, with the two facing each other on Saturday.
June 19, 2019 03:06 UTC
MIRI: Miri police have arrested a suspected drug-trafficker found with more than 5kg of drugs stashed in a room in a homestay. The discovery of the drugs at the place located along the Miri-Bintulu Highway was made at about 6.30pm Tuesday evening (June 18). Miri police chief Asst Comm Lim Meng Seah said the 33-yr old man was arrested for invstigations under Section 39B of the Dangerous Drugs Act for trafficking. Police first stopped him on the highway and found some drugs on him, after which he led them to the homestay where he was putting up. Police estimated the drugs were worth about RM57,000 on the streets.
June 19, 2019 02:48 UTC
What does Wall Street do before disappearing for a few months of golf, tennis and beachside soirees? Palm trees swayed in light Bronx breezes as the New York Botanical Garden raised almost US$2.2 million (RM9.2 million) and honoured its chairman emerita Maureen Chilton. “I have a huge spot for them in my heart because they are always hungry looking for something to eat. A day later, Black was at the Central Park Conservancy’s Taste of Summer, where Italian bistro Sistina served ravioli. He is working to make that happen as a co-chairman of the Cancer Research Institute, which has focused on immunotherapy for more than 50 years.
Source:The Edge Markets
June 19, 2019 02:26 UTC
BANGKOK (ANN): An inter-province bus conductor was fired and the bus firm was fined Bt5,000 (RM667) after he allegedly molested a transgender passenger on-board a bus to Nong Bua Lamphu, a senior official of the Land Transport Department said on Tuesday. She said Chokchai fetched her a blanket sheet and touched her arm and she thought the bus conductor was just teasing her. A moment later the bus conductor touched her arm again and she sensed that something was wrong but did not say anything. She woke up to see that the bus conductor was rubbing his organ on her arm, she wrote. O said the bus conductor then walked to sit beside her and started chatting with her while molesting her.
June 19, 2019 02:26 UTC
KUALA LUMPUR: Shares in Pantech Group Holdings Bhd rose over 2.6% in early trade Wednesday following the resumption of its exports to the US. The steelmaker rose 2.68%, or 1.5 sen to 57.5 sen with 1.5 million shares traded. Pantech said the resumption of exports is expected to have a positive impact on group revenue, with contribution from Pantech Steel Industries Sdn Bhd (PSI) projected to normalise by fiscal quarter ending Nov 30, 2019. Pantech had suspended for almost a year all shipments of carbon steel butt-weld fittings having an inside diameter of less than 14 inches. The research house has reiterated its “outperform” call on Pantech with an unchanged target price of 69 sen.
June 19, 2019 02:15 UTC
CAIRO (Reuters) - The African Cup of Nations gets underway in Egypt on Friday sporting a fresh new look but the 32nd edition is clouded like none before by security concerns and the foibles of the game’s administrators. But the success of UEFA's expanded European Championship in France three years ago emboldened the Confederation of African Football to follow suit. STRICT CONTROLEgypt get the tournament underway on Friday against Zimbabwe at the Cairo International Stadium, rarely used over the last seven years since strict controls were imposed on football crowds in the country. Heavy security is expected around the tournament, which follows quickly on the heels of turmoil in the ranks of the continent's Confederation of African Football (CAF). Ahmad, who is also a FIFA vice-president, did not respond to requests by Reuters for comment on the allegations against him.
June 19, 2019 01:52 UTC
KUALA LUMPUR: The ringgit rose against the US dollar at the opening today in line with its regional peers due to positive sentiment arising from the upcoming meeting between US President Donald Trump and China President Xi Jinping.At 9 am, the ringgit was at 4.1730/1760 against the greenback from 4.1800/1830 at Tuesday's close.A dealer hoped that Trump-Xi meeting slated to be held during the G20 summit in Osaka, Japan end of this month, would provide the much-awaited solution to the escalating trade war involving the two economic superpowers. - BernamaExpectations for a US Federal Reserve rate cut are growing on the back of the ECB's signal for more monetary easing, says Ambank research. "With the US Fed kicking off its two-day meeting starting today, expectations are growing for an interest rate cut in July is set at 60% by us while the market is looking at 85%. We are looking at a 90% chance for a rate cut in September. "We expect the Fed Chair to be careful with his wording, but that the word "patient" — which he introduced at the beginning of the year to describe the central bank's approach to future policy decisions — will disappear," it said.Ambank expects the ringgit to trade between its support level of 4.1730 and 4.1752 while its resistance is pinned at 4.1845 and 4.1889.
June 19, 2019 01:52 UTC
KUALA LUMPUR: Proposals from the Malaysian Aviation COmmission's second consulation paper on the Aeronautrical Charges Framework are overall positive for Malaysia Airports Holdings Bhd (MAHB), says RHB research. "Although the proposed regulated WACC of 10.88% is lower than MAHB’s suggestion of 12.7-14%, it is at the higher end of MAVCOM’s initial range of 9-11% in the first consultation paper. "Note that the WACC represents the fair return on capital for the amount of capex that MAHB will spend – as such, the higher value is better for MAHB," it said.The research house also noted that MAVCOM has introduced a transfer passenger service charge.Meanwhile, MAVCOM said RM5bil of capex can be admitted into the regulated asset base, which is close to MAHB"s capex plan of RM5.2bil under its business plans submitted on June 3 this year although it is below the RM10bil submitted in November 2018. "We are positive on MAVCOM’s proposals as it has removed a large amount of uncertainty for the RAB framework. We expect MAHB’s valuation to rerate further," said RHB.The research house maintained its buy rating on MAHB with a higher target price of RM9.20 from RM8.15 previously.
June 19, 2019 00:45 UTC