Latest news with #RM1.47
New Straits Times
04-07-2025
- Business
- New Straits Times
MN Holdings wins RM29mil TNB contract for Johor substation project
KUALA LUMPUR: MN Holdings Bhd's unit, MN Power Transmission Sdn Bhd, has secured a RM29.3 million contract from Tenaga Nasional Bhd (TNB) for a substation expansion project in Johor. In a filing with Bursa Malaysia, the company said it received the letter of award from TNB yesterday for the extension of two new 132-kilovolt transformer bays at the existing main intake substation in the Tanjung Langsat Industrial Estate. The project involves supplying, installing and commissioning the high-voltage transformer units using air-insulated switchgear technology, together with all associated civil works and secondary electrical systems. The contract, which excludes Sales and Service Tax, is scheduled to be completed within 540 days from the commencement date. MN Power Transmission is also required to furnish a performance security of RM1.47 million, equivalent to five per cent of the contract value, within 56 days of the award. Additionally, the company must procure all necessary insurance coverage, including construction all-risks, workmen's compensation, public liability and other relevant policies. "This project award reflects MN's ongoing capability and expertise in delivering power infrastructure solutions," the company said, adding that the contract is expected to contribute positively to the group's future earnings and net assets.
The Sun
28-05-2025
- Business
- The Sun
Elderly man loses RM1.47 million to online trading scam
IPOH: An elderly man suffered losses of over RM1.47 million after he fell victim to an online trading scam, Perak police chief Datuk Noor Hisam Nordin said. The man, 75, who is a company director, lodged a police report in Ipoh on May 25 about the scam that began on April 15, when he received a phone call from an unidentified woman offering him to be a partner of a company trading with another company abroad, he said. The victim agreed to become a partner after he checked the company's status and found it was operating since 1989, and was then asked to download an app called SHV Shop. 'If a customer wished to purchase an item, the victim only had to pay the selected price and would get a commission of 30 per cent,' he said in a statement last night. The victim then paid a deposit of RM22,122 via a cash deposit machine to a Maybank account of a company. 'Thinking about his would-be profits, the victim deposited a total of RM1,470,734 from April 17 to May 16 into six different bank accounts through online transfers and bank counters,' he said, adding that the victim did not receive any returns and felt that he was scammed. The case is being investigated under Section 420 of the Penal Code.
The Sun
28-05-2025
- Business
- The Sun
Elderly man loses RM1.47m to online trading scam
IPOH: An elderly man suffered losses of over RM1.47 million after he fell victim to an online trading scam, Perak police chief Datuk Noor Hisam Nordin said. The man, 75, who is a company director, lodged a police report in Ipoh on May 25 about the scam that began on April 15, when he received a phone call from an unidentified woman offering him to be a partner of a company trading with another company abroad, he said. The victim agreed to become a partner after he checked the company's status and found it was operating since 1989, and was then asked to download an app called SHV Shop. 'If a customer wished to purchase an item, the victim only had to pay the selected price and would get a commission of 30 per cent,' he said in a statement last night. The victim then paid a deposit of RM22,122 via a cash deposit machine to a Maybank account of a company. 'Thinking about his would-be profits, the victim deposited a total of RM1,470,734 from April 17 to May 16 into six different bank accounts through online transfers and bank counters,' he said, adding that the victim did not receive any returns and felt that he was scammed. The case is being investigated under Section 420 of the Penal Code.
New Straits Times
27-05-2025
- Business
- New Straits Times
Company director loses RM1.4 million to fake investment syndicate
IPOH: A company director lost RM1.4 million after being duped by a syndicate offering fake investment trading partnerships. The ordeal began when the 75-year-old man received a call from a woman on April 15, offering him a partnership in a company to purchase goods from another company based overseas. After verifying that the company had been operating since 1989, the man agreed to the offer. He was then asked to download an app linked to the company, which purportedly sold luxury goods. Perak police chief Datuk Noor Hisam Nordin said the man was told he would earn a 30 per cent commission if customers bought the goods, but he had to pay for the items himself. "The man paid a deposit of RM22,122 via a cash deposit machine into a company bank account. "Believing in the promised returns, the complainant went on to transfer a total of RM1.47 million into six different company bank accounts via online transfers and by visiting bank counters," he said in a statement tonight. Noor Hisam said the victim only realised he had been scammed when he received no returns on the funds transferred between April 17 and May 16. He lodged a police report last Sunday.
