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New Straits Times
02-07-2025
- New Straits Times
Illicit cigarettes, liquor worth RM2.67mil seized in Penang
BUTTERWORTH: Penang Customs successfully dismantled two smuggling attempts involving illicit cigarettes and liquor, with the total value including duties and taxes exceeding RM2.67 million, in separate operations conducted in May. State Customs director Rohaizad Ali said the first seizure involved 1.32 million sticks of white cigarettes and kretek found in a parked lorry at a residential area in Bukit Mertajam on May 6. He said officers from the Enforcement Department's Operations Unit inspected the vehicle and discovered the cigarettes, believed to be untaxed, stored in its cargo hold. He said the lorry was abandoned with its keys inside, a suspected modus operandi to avoid detection by authorities. "The total value of the seized goods is estimated at RM431,504, with duties and taxes amounting to around RM1.35 million. "The cigarettes are believed to have been brought in from a neighbouring country," he told newsmen here today. Rohaizad said two men, a lorry driver and co-driver in their 20s and 30s, who were nearby at the time of the raid, were nabbed to assist in the investigation. The case is being investigated under Section 135(1)(d) of the Customs Act 1967, which provides for a fine of not less than 10 times the value of the goods or RM100,000, whichever is higher, and not more than 20 times the value or RM500,000, or imprisonment of between six months and five years, or both, upon conviction. In the second case on May 9, Customs officers raided a house in a residential neighbourhood here, where they seized a large quantity of liquor and beer believed to be untaxed. "The seizure involved 15,288 cans of beer and 13,820 bottles of liquor, with an estimated value of RM236,737.20, and total duties and taxes estimated at RM663,027.03," he added. The items are believed to have been temporarily stored at the premises before being distributed to the local market. The case is also being investigated under the same provision of the Customs Act 1967. Rohaizad stressed that both cigarettes and liquor are classified as prohibited import items under the Customs (Prohibition of Imports) Order 2023, and firm action would continue to be taken against all parties involved.
The Sun
04-06-2025
- Business
- The Sun
MACC seizes assets worth RM143 million linked to highway sukuk fund misuse
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized assets linked to the misuse of sukuk funds of the construction of a highway in Klang Valley believed to be owned by a highway concessionaire with a Tan Sri title totalling RM143 million during an operation conducted last week. Its chief commissioner, Tan Sri Azam Baki said the seizures include 14 individual accounts totalling RM4.5 million, eight company accounts totalling RM33 million, luxury condominium and land worth RM24.5 million, nine cars worth RM7.65 million, and 13 cars that have yet to be handed over to the investigation team. Other items seized include luxury watches worth RM25 million, handbags worth RM3 million, jewellery and diamonds (RM6 million), four horses (RM400,000), alcoholic beverages (RM3 million), foreign assets worth more than RM15 million and around RM20 million in gambling activities. 'Preliminary investigations revealed there was misconduct between 2016 and 2020 involving approved sukuk funds of about RM1.35 billion, involving false claims of about RM360 million and RM416 million and RM50 million in other bank facility loans. 'The RM1.67 billion highway project also failed to be completed according to schedule and investigations are focused on bribes worth RM12 million paid to certain parties as inducement in helping the cash flow out and back to the suspect,' he said in a statement tonight, adding that the proceeds were also believed to have been used in money laundering activities. He explained that to embezzle the funds, the parties involved were believed to have used professionals such as auditors, financial experts, engineers and shell companies. 'Until now, the MACC has yet to take the Tan Sri's statement as he is in a private hospital ward and today the investigating officer will get confirmation from the doctor on the status of the Tan Sri's health before recording his statement. 'Meanwhile, the number of witness statements stands at 45, and those witnesses who have given their statements have been asked to provide further statements,' he said, adding that the investigating team is also tracking down luxury vehicles and properties belonging to the Tan Sri abroad, including in London and Switzerland. The investigation is focused on the true amount of luxury liquor kept by the Tan Sri and the possibility that funds have been transferred to other accounts, he said. He added that an asset declaration notice has been handed to the Tan Sri and other related parties.
The Sun
04-06-2025
- Business
- The Sun
ASSETS WORTH RM143m linked to highway sukuk fund misuse seized
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized assets linked to the misuse of sukuk funds of the construction of a highway in Klang Valley believed to be owned by a highway concessionaire with a Tan Sri title totalling RM143 million during an operation conducted last week. Its chief commissioner, Tan Sri Azam Baki said the seizures include 14 individual accounts totalling RM4.5 million, eight company accounts totalling RM33 million, luxury condominium and land worth RM24.5 million, nine cars worth RM7.65 million, and 13 cars that have yet to be handed over to the investigation team. Other items seized include luxury watches worth RM25 million, handbags worth RM3 million, jewellery and diamonds (RM6 million), four horses (RM400,000), alcoholic beverages (RM3 million), foreign assets worth more than RM15 million and around RM20 million in gambling activities. 'Preliminary investigations revealed there was misconduct between 2016 and 2020 involving approved sukuk funds of about RM1.35 billion, involving false claims of about RM360 million and RM416 million and RM50 million in other bank facility loans. 'The RM1.67 billion highway project also failed to be completed according to schedule and investigations are focused on bribes worth RM12 million paid to certain parties as inducement in helping the cash flow out and back to the suspect,' he said in a statement tonight, adding that the proceeds were also believed to have been used in money laundering activities. He explained that to embezzle the funds, the parties involved were believed to have used professionals such as auditors, financial experts, engineers and shell companies. 'Until now, the MACC has yet to take the Tan Sri's statement as he is in a private hospital ward and today the investigating officer will get confirmation from the doctor on the status of the Tan Sri's health before recording his statement. 'Meanwhile, the number of witness statements stands at 45, and those witnesses who have given their statements have been asked to provide further statements,' he said, adding that the investigating team is also tracking down luxury vehicles and properties belonging to the Tan Sri abroad, including in London and Switzerland. The investigation is focused on the true amount of luxury liquor kept by the Tan Sri and the possibility that funds have been transferred to other accounts, he said. He added that an asset declaration notice has been handed to the Tan Sri and other related parties.
Daily Express
03-06-2025
- Business
- Daily Express
Bursa Malaysia remains lower at mid-afternoon
Published on: Tuesday, June 03, 2025 Published on: Tue, Jun 03, 2025 By: Bernama Text Size: At 3.05 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.0 points to 1,504.35 from last Friday's close of 1,508.35. Kuala Lumpur: Bursa Malaysia remained lower at mid-afternoon on continued profit-taking in selected heavyweights and lower-liners led by consumer as well as industrial products and services stocks. At 3.05 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.0 points to 1,504.35 from last Friday's close of 1,508.35. The benchmark index opened 4.37 points higher at 1,512.72. Market breadth was negative with 715 decliners and 241 gainers, while 386 counters were unchanged, 1,004 untraded and 15 suspended. Turnover stood at 2.40 billion units worth RM1.35 billion. Maybank Investment Bank said in a note today that the benchmark index is expected to range between 1,500 points and 1,520 points today, with supports remaining at 1,500 points and 1,440 points. Among the heavyweights, QL Resources fell 11 sen to RM4.39, Petronas Chemicals dipped eight sen to RM3.34, Sunway and Press Metal dropped nine sen each to RM4.66 and RM4.95 respectively, and Axiata decreased three sen to RM2.02. Among the most active counters, Harvest Miracle Capital and ACE Market debutant ICT Zone Asia were flat at 18 sen and 20 sen respectively, Permaju Industries eased half-a-sen to 1.0 sen, Tanco Holdings slid half-a-sen to 99.5 sen, and Eco-Shop Marketing slipped three sen to RM1.23. On the index board, the FBM Emas Index shaved 42.05 points to 11,257.75, the FBMT 100 Index lost 35.74 points to 11,025.26, and the FBM ACE Index sank 88.68 points to 4,462.35. The FBM Emas Shariah Index trimmed 49.47 points to 11,206.78, while the FBM 70 Index retreated 77.77 points to 16,123.74. Sector-wise, the Financial Services Index weakened 34.22 points to 17,806.31, the Industrial Products and Services Index edged down 2.27 points to 150.38, and the Energy Index dropped 7.53 points to 700.69, but the Plantation Index gained 21.82 points to 7,229.67. * 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
The Sun
03-06-2025
- Business
- The Sun
Bursa Malaysia remains lower at mid-afternoon
KUALA LUMPUR: Bursa Malaysia remained lower at mid-afternoon on continued profit-taking in selected heavyweights and lower-liners led by consumer as well as industrial products and services stocks. At 3.05 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.0 points to 1,504.35 from last Friday's close of 1,508.35. The benchmark index opened 4.37 points higher at 1,512.72. Market breadth was negative with 715 decliners and 241 gainers, while 386 counters were unchanged, 1,004 untraded and 15 suspended. Turnover stood at 2.40 billion units worth RM1.35 billion. Maybank Investment Bank said in a note today that the benchmark index is expected to range between 1,500 points and 1,520 points today, with supports remaining at 1,500 points and 1,440 points. Among the heavyweights, QL Resources fell 11 sen to RM4.39, Petronas Chemicals dipped eight sen to RM3.34, Sunway and Press Metal dropped nine sen each to RM4.66 and RM4.95 respectively, and Axiata decreased three sen to RM2.02. Among the most active counters, Harvest Miracle Capital and ACE Market debutant ICT Zone Asia were flat at 18 sen and 20 sen respectively, Permaju Industries eased half-a-sen to 1.0 sen, Tanco Holdings slid half-a-sen to 99.5 sen, and Eco-Shop Marketing slipped three sen to RM1.23. On the index board, the FBM Emas Index shaved 42.05 points to 11,257.75, the FBMT 100 Index lost 35.74 points to 11,025.26, and the FBM ACE Index sank 88.68 points to 4,462.35. The FBM Emas Shariah Index trimmed 49.47 points to 11,206.78, while the FBM 70 Index retreated 77.77 points to 16,123.74. Sector-wise, the Financial Services Index weakened 34.22 points to 17,806.31, the Industrial Products and Services Index edged down 2.27 points to 150.38, and the Energy Index dropped 7.53 points to 700.69, but the Plantation Index gained 21.82 points to 7,229.67.
