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New Straits Times
02-07-2025
- Business
- New Straits Times
Tropicana, MBSB Bank offer attractive financing for Johor's Skypark Kepler
JOHOR BHARU: Tropicana Corp Bhd has teamed up with MBSB Bank to offer an attractive financing package for Skypark Kepler, the first branded residences by Banyan Group, located within the Lido Waterfront Boulevard (Lido) development in Johor. Under the collaboration, eligible buyers can enjoy competitive financing margins from as low as 3.85 per cent and flexible loan tenures of up to 35 years. The exclusive financing solution, coupled with a special preferential rate, is tailored specifically for Skypark Kepler purchasers, said Usman Ghouse, MBSB Bank's group head of consumer banking. "We are proud to support Tropicana's Skypark Kepler with a tailored financing package, making premium homeownership more accessible to various buyers alike," said Usman. "This collaboration reflects MBSB Bank's ongoing commitment to empower aspiring homeowners through smart, flexible financial solutions." Skypark Kepler is the first phase of Lido, strategically situated within the Johor Bahru Waterfront Zone - a premium incentive area under the Flagship A Johor-Singapore Special Economic Zone. Starting from RM580,000, Skypark Kepler comprises 1,596 fully furnished designer units ranging from 463 sq ft to 807 sq ft across two elegant 54-storey towers, designed to appeal to young professionals, families and retirees alike. Tropicana managing director for marketing, sales and business development Ixora Ang shared that partially furnished units in Tower A are priced at about RM1,300 per sq ft, while the fully furnished residences in Tower B, featuring premium fittings and furnishings from brands like Samsung and Kohler, are priced at about RM1,800 per sq ft. "We conceptualised the Lido master plan years ago, envisioning it as Johor's future metropolis and our crown jewel in the Southern region. Lido will be a landmark township integrating seven key components, exceptional connectivity, and sustainable smart city living," she said. "We hosted soft launches to gauge the market response to this first, branded residences, and have received positive feedback." Tropicana executive director for marketing and sales Jenny Low said around 80 units at Skypark Kepler have been sold to date, with a gross development value of RM100 million - most purchases coming from foreign buyers. Skypark Kepler's official launch was marked by the unveiling of its new show units and an upgraded property gallery at Danga Bay. The freehold development stands out for its many unique features, including international zoning, proximity to the Johor Bahru-Singapore Rapid Transit System, unobstructed waterfront views, a 2.5km coastal boardwalk, a 32-acre green park, and a cultural centre. In November 2024, Tropicana held the official groundbreaking ceremony with main contractor China State Construction Engineering Corporation and signed partnership agreements with Banyan Group, Samsung, and Kohler for the residences' premium finishes and appliances. In May 2025, Tropicana appointed global architecture firm Skidmore, Owings and Merrill to lead the Lidomaster plan transformation. According to Dr. Jeffrey Yee, Tropicana's managing director for the southern region, Skypark Kepler is slated for completion and handover by late 2029 or early 2030.
Malaysian Reserve
18-06-2025
- Business
- Malaysian Reserve
MBSB Bank's 'WorksForMe' makes banking rewarding without the fine print
by TMR MBSB Bank has unveiled 'WorksForMe', a new payroll proposition designed to make saving and building wealth as seamless and rewarding as possible. With this, customers can enjoy the benefits of banking with MBSB Bank without having to meet complicated conditions. Targeted at Malaysia's growing base of salaried employees, freelancers and gig workers, WorksForMe is built for individuals who want a bank that simplifies making sound financial decisions. MBSB Bank's Group Consumer Banking head of liabilities and proposition Soo Bee Teong said as people are becoming more financially knowledgeable, they need tools that align with their lifestyle and financial goals 'With WorksForMe, we have made it easy. You get access to a wide range of rewards, benefits, and flexibility just by crediting your income into your MBSB Bank account. 'No excessive conditions. No complexity. Just good value,' she said in a statement. WorksForMe customers enjoy: • Fee-free ATM withdrawals at all MEPS ATMs nationwide. • Enjoy exclusive benefits when they open a new account with MBSB Bank, from no initial deposit requirements to attractive profit rates. There are more rewards for joint accounts with their children. • Enjoy competitive rates on Personal, Home, and Auto Financing offerings. • Unit Trust investments at only 1.0% sales charge through a trusted fund aggregator, giving customers access to high-quality funds with low barriers. By integrating behavioural insights, WorksForMe supports financially literate customers in overcoming the common trap of present bias. It brings them toward smarter, long-term decisions while giving them control and flexibility. MBSB Bank group chief consumer banking officer Usman Ghouse said the bank believes in making savings and wealth-building frictionless. 'WorksForMe is how we honour that promise by ensuring that every Ringgit you save, spend, or invest with MBSB Bank adds up to a stronger financial future,' he said. WorksForMe is now available at all MBSB Bank branches nationwide.
New Straits Times
16-06-2025
- Business
- New Straits Times
MBSB Bank extends RM180mil financing to MAG for halal aquaculture expansion
KUALA LUMPUR: MBSB Bank Bhd has approved Islamic financing facilities totalling RM180 million for MAG Holdings Bhd to strengthen its operations across the halal aquaculture value chain. The bank said the facilities, structured through term financing-i and trade line facilities-i, will support MAG's working capital and capital expenditure needs. This will particularly help in scaling its cold chain logistics, farming and hatchery infrastructure, and halal seafood export capacity. "We are proud to support MAG's next phase with Shariah-compliant, development-focused financing," MBSB Bank group chief commercial banking officer Che Nazari Che Azid said in a statement today. "This partnership reflects our confidence in their business model and our commitment to sectors like aquaculture and halal food where food security, exports and sustainability intersect." MAG executive chairman Stephen Ng said this facility comes at a pivotal time as the company expands production and strengthens its infrastructure. "With MBSB Bank's support, we're better positioned to advance halal traceability and sustainable aquaculture and to lead with both purpose and resilience," said Ng.
Daily Express
14-06-2025
- Daily Express
RM24.2 million bank fraud: 3 jailed
Published on: Saturday, June 14, 2025 Published on: Sat, Jun 14, 2025 By: Jo Ann Mool Text Size: Left: Sugumaran and Hasran being led to the courthouse. Subramaniam (right). Kota Kinabalu: Three out of 10 individuals charged in connection with an organised criminal group linked to the RM24.2 million fraudulent bank withdrawals were jailed five years each by the High Court here Friday. Self-employed Sugumaran K. Ponniah, 56; Subramaniam Thangavelu, 57, a primary school teacher; and Hasran Magin, 47, a fisherman, pleaded guilty separately before Judge Datuk Duncan Sikodol to an alternative charge under Section 130W of the Penal Code for assisting the organised criminal group. Advertisement Sugumaran, Subramaniam and Hasran committed the offence last year at MBSB Bank branches here between May 13 and July 3; May 9 and July 4; and April 26 and July 1, respectively. The alternative charge carries a jail term of up to 10 years on conviction. In delivering his ruling, Duncan held, among others, that the offence had serious implications for the public and customer confidence. He said such actions could lead to economic collapse and widespread distrust among customers. Duncan ordered the three to serve the sentence from their respective date of arrest. Earlier, presenting the facts of the case, the prosecution informed the court that a police report was lodged on June 27, 2024 by an Assistant Superintendent of Police from the Sabah Contingent Commercial Crime Investigation Department (CCID) based on intelligence on an organised criminal group suspected of manufacturing fake identity cards and using them to commit large-scale financial fraud. Acting on the information, police arrested Sugumaran, Subramaniam and Hasran, respectively, at the roadside near Jalan Pahlawan, here, at 4pm on July 8, 2024 and handed them over to the Investigating Officer for further investigation. Investigations revealed that the three had assisted an organised criminal group in committing criminal breach of trust by a clerk or servant, using forged valuable securities, namely, fake identity cards, to help the group obtain financial gain. With the help of Sugumaran, Subramaniam and Hasran, the group fraudulently withdrew large sums of money from several fixed deposit accounts of the MBSB branches in Kota Kinabalu using fake identity cards, the court heard. Investigations also revealed that the organised criminal group assisted by the three was involved in the commissioning of serious offences under investigation under Section 408 of the Penal Code, read together with Section 120B of the Penal Code, as in Menggatal Report: A case which involved two unauthorised withdrawals from the fixed deposit account of Wang Su Sing at the MBSB Alamesra branch — RM2 million on April 26, 2024 and RM7 million on April 30, 2024. Tanjong Aru Report: A case related to the wrongful withdrawal of funds from the fixed deposit account of Ananthan a/l Sinivesan at MBSB Lintas Jaya. Two transactions were recorded — RM2 million on May 9, 2024 and RM4 million on May 10, 2024. Menggatal Report: At the same MBSB Lintas Jaya branch, two fraudulent withdrawals were made from the account of Edgar Ralph Fernandez — RM2 million on May 17, 2024 and RM3.7 million on May 21, 2024. Another Menggatal Report which involved one transaction at the MBSB Alamesra branch, where RM3.5 million was unlawfully withdrawn from the fixed deposit account of Karina Ang Li Li on June 5, 2024. Counsel Datuk Ram Singh, Dominic Chew and Azhier Farhan, representing Subramaniam, Sugumaran, and Hasran, respectively, requested for a lenient sentence of less than three years by submitting, among others, that it was their first offence, they were remorseful and that the conduct was non-violent. Azhier also submitted that all monies involved in the fraudulent transactions were fully reimbursed by MBSB, while Ram added that Subramaniam is an English teacher for 18 years and aware and sad of losing all the pensions benefit. Meanwhile, the prosecution urged the court to impose an appropriate sentence, stressing the seriousness of the offence, the public interest, the need for deterrence and that the guilty plea should not be the primary consideration. Deputy Public Prosecutor (DPP) Datuk Nazran Mohd Sham also submitted that the accused's role cannot be viewed singularly and separately and that the case had originated from an investigation under Sosma, which, he stressed, reflected the seriousness of the offence. Nazran further submitted that the fact that the monies have been recovered did not reflect the full picture. The recovered monies were payments made by the bank's insurance. The actual sums taken have not been fully recovered, not even 50 per cent. As such, the losses affected not only the bank but also public trust in the financial system, he said, among others. Together with Nazran were DPPs Shafiq Hasim, Mohd Ashraf Adrin Kamarul and Yazid Mustaqim Roslan, while Ram was with counsel Prem Elmer Ganasan. Meanwhile, another accused, Nasir Abdul Rasid, had also earlier pleaded guilty to the alternative charge but later disputed the facts of the case. The remaining six accused - Josepin J. Langkan, Leong Hin Ping, Vireonis Jonok, Mazlani Jenuary and Iren Chin Nyuk Thien and Christina @ Caroline Pianus Etip (both bank managers) who were separately charged with being members of an organised crime group involved in serious offences for the material benefit of the group led by Josepin J. Langkan between April 26, 2024 and July 10 the same year at the MBSB Bank branches - together with Nasir would have their case mentioned on July 18. The charge under Section 130V(1) of the Penal Code carries a jail term of between five years and 20 years on conviction. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
13-06-2025
- New Straits Times
Court jails three in organised crime case linked to RM24mil bank withdrawals
KOTA KINABALU: Three out of 10 individuals charged in connection with an organised crime group linked to the RM24.2 million in illegal bank withdrawals were sentenced to five years' imprisonment by the High Court here today. The accused are Subramaniam Thangavelu, 56, a teacher; Sugumaran K. Ponniah, 56, self-employed; and Hasran Magin, 46, a fisherman. All three pleaded guilty before Judge Datuk Duncan Sikodol to an alternative charge under Section 130W of the Penal Code for assisting the organised criminal group. The Section provides for imprisonment of up to 10 years upon conviction. The alternative charge was offered by the prosecution following the acceptance of representation letters from all the accused. They separately admitted to having assisted an organised crime group involved in fraudulent activities to obtain material benefits for the group, led by Josepin J. Langkan, between April and July 2024, at the MBSB Bank branch in the city. According to the case facts, a police report was lodged on June 27 regarding an organised crime group involved in the forgery of MyKad, fraud, and criminal breach of trust. Following the report, all the accused were arrested at several locations on July 8, 2024. Investigations revealed that the accused had assisted the group in committing criminal breach of trust by a clerk or servant using forged valuable security documents, namely fake MyKad, to obtain material benefits. With their assistance, the group successfully withdrew large sums of money from several fixed deposit accounts at MBSB Bank in Kota Kinabalu, Sabah, using the forged MyKad. Investigations also found that the group, aided by the accused, had been involved in serious offences, including three cases in Manggatal and one in Tanjung Aru, involving fixed deposit withdrawals amounting to millions of ringgit. These cases are being investigated under, among others, Section 408 of the Penal Code, read together with Section 120B of the same Code. Subramaniam was represented by lawyers Datuk Ram Singh and Prem Elmer Ganasan, while Sugumaran and Hasran were represented by Dominic Chew and Azhier Farhan Arisin, respectively. Deputy public prosecutors Datuk Nazran Mohd Sham, Shafiq Hasim, Mohd Ashrof Adrin Kamarul and Yazid Mustaqin Roslan conducted the prosecution. Earlier, all the accused, through their respective counsel, requested leniency on the grounds that they were first-time offenders and their involvement was minimal, for example, Hasran, who only pushed an imposter in a wheelchair into the bank. The prosecution, however, urged the court to impose a deterrent sentence, citing public interest and the seriousness of the offences. They argued that a guilty plea should not be the main consideration and highlighted that this was the first case of its kind involving a financial institution investigated under the Security Offences (Special Measures) Act 2012 (Sosma). Meanwhile, the court fixed July 18 for further mention of the case involving the remaining seven individuals who have maintained their not guilty pleas. They are Josepin J. Langkan, 38; Nasir Abdul Rasid, 60; Irene Chin Nyuk Thien, 38; Christina @ Caroline Pianus Etip, 53; Vireonis Jonok, 35; Leong Hin Ping, 62; and Mazlani Jenuary, 53. They face the original charge under Section 130V(1) of the Penal Code, which carries a maximum prison sentence of 20 years for being members of an organised criminal group, allegedly committed during the same period and at the same location. Earlier, Nasir initially pleaded guilty to an alternative charge but disputed the facts of the case as read out in court, resulting in his plea being rejected. For the record, all 10 accused persons claimed trial on Nov 7, 2024.
