Latest news with #RM170
Sinar Daily
2 days ago
- Business
- Sinar Daily
Court to hear MACC's RM169 million forfeiture bid against Ismail Sabri on Oct 1
The court also ordered the defence to file its affidavit in reply on or before Aug 13, while MACC must file a counter-affidavit on or before Sept 3. 22 Jul 2025 04:54pm Former prime minister Datuk Seri Ismail Sabri Yaakob - Photo by Bernama KUALA LUMPUR - The Sessions Court here today set Oct 1 to hear the Malaysian Anti-Corruption Commission's (MACC) application to forfeit over RM169 million in cash allegedly belonging to former prime minister Datuk Seri Ismail Sabri Yaakob. Judge Suzana Hussin fixed the date after lawyer Datuk Amer Hamzah Arshad, representing Ismail and his former political secretary Datuk Mohammad Anuar Mohd Yunus as respondents, informed the court that more time was needed to review and respond to the application. The court also ordered the defence to file its affidavit in reply on or before Aug 13, while MACC must file a counter-affidavit on or before Sept 3. The proceedings were attended by Deputy Public Prosecutors Ifa Sirrhu Samsudin and Alis Izzati Azurin Rusdi, as well as lawyer Ragunath Kesavan, who also appeared for Ismail and Mohammad Anuar. MACC is seeking a court order to forfeit the seized funds from Mohammad Anuar to the Malaysian Government. The funds sought to be forfeited include RM14,772,150; SGD6,132,350 (Singapore dollars); USD1,461,400; CHF3 million (Swiss francs); EUR12,164,150; JPY363,000,000 (Japanese yen); GBP50,250; NZD44,600; AED34,750,000 (UAE dirhams) and AUD352,850. The Sessions Court here set Oct 1 to hear MACC's application to forfeit over RM169 million in cash allegedly belonging to former prime minister Datuk Seri Ismail Sabri Yaakob. - BERNAMA FILE PIX The application was made under Section 41(1) of the MACC Act 2009 after the commission was satisfied that the money held by Mohammad Anuar belonged to Ismail Sabri and was linked to an offence under Section 36(2) of the same Act. On July 3, MACC chief commissioner Tan Sri Azam Baki said at a press conference that the anti-graft body would apply to the court to forfeit seized assets amounting to RM170 million. Previously, Ismail Sabri had been summoned several times to record statements with regard to the declaration of assets he made to the MACC. MACC had also seized RM170 million in cash in various foreign currencies, as well as 16 kilogrammes of pure gold bars estimated to be worth RM7 million, in connection with the corruption and money laundering investigation involving the Bera MP. The seizure was made during raids on residences and offices believed to be used as 'safe houses' following investigations into four senior officers of Ismail Sabri who were arrested in February. - BERNAMA More Like This
Daily Express
6 days ago
- Business
- Daily Express
Ewon urges Sabah youth to embrace sports
Published on: Friday, July 18, 2025 Published on: Fri, Jul 18, 2025 By: Mohd Izham Hashim Text Size: Ewon presenting a mock cheque to Iruan at the event. PENAMPANG: Young people have been urged to embrace sports to adopt a healthier lifestyle, foster unity and open doors to entrepreneurship. Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick emphasised that the value of organising sports competitions not only unearths new talents but also plays a crucial role in fostering unity, teamwork and friendship among the people. Officiating the 2025 National Boxing Championship at the Sabah Cultural Centre in Penampang, Ewon highlighted how sports provide a platform to promote healthy competition, enhance understanding, build camaraderie and strengthen national unity. Advertisement 'My presence here signifies support for sports as a platform for unity, friendship and togetherness among the people, while also nurturing national boxing athletes, particularly from Sabah,' he stated. During the event, organised by the Malaysian Boxing Federation, Ewon who was also representing the Minister of Youth and Sports Hannah Yeoh, presented a mock cheque for an RM170,000 allocation from the Ministry of Youth and Sports as a grant for the championship. Ewon further detailed how his Ministry supports young entrepreneurs in the sports industry through various funding facilities. 'Among the options available is the Sports Industry Financing Scheme under Bank Rakyat. Additionally, Tekun Nasional provides funding for small entrepreneurs in the gymnasium and sports equipment businesses,' he explained. He added that youth cooperatives engaged in business can also apply for grants from the Malaysia Co-operative Societies Commission (SKM), provided they are properly registered and conducting legitimate cooperative business activities. Among those who also attended the event were President of Malaysia Boxing Federation Datuk Iruan Zulkefli and President of the Sabah Amateur Boxing Association (Saba) Datuk Orlando Harumal. * 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
10-07-2025
- Entertainment
- New Straits Times
'Nandini Mana?!' explores global culture with a Malaysian lens
Media platform SAYS has launched Nandini Mana?!, a travel and culture video series exploring the intersections of culture, history and identity through a distinctly Malaysian lens. Hosted by SAYS video lead Nandini Balakrishnan, the series traces cultural links across Asia and Europe, uncovering shared heritage, culinary ties and connections between Malaysia and communities abroad. Spanning three continents over two months, the journey is limited to just two flights and a daily budget of RM170, with travel by land, rail and sea. At each stop, Nandini takes on three challenges: eat only local food, learn five local phrases and collect a matchbox. The trailer has drawn over 262,000 views and nearly 500 comments on Instagram, showing an interest among viewers for authentic and meaningful storytelling. "I wanted to explore places that feel far from Malaysia but are actually deeply linked to us, through food, migration, language or shared history. Connections and threads exist everywhere, and I want to show it in a way that feels honest, raw and very Malaysian. Jom lawatan sambil belajar with me!" Nandini shared. FIRST STOP: SRI LANKA The first episode features Nandini visiting a Sri Lankan Malay-owned restaurant, where she speaks with the owner and samples her food. Debuting with over 211,000 views, the episode received a strong response and set the tone for the rest of the series. From Sri Lanka, Nandini will travel by ferry to India, exploring Tamil Nadu's cultural landscape through Trichy, Madurai, Pondicherry and Chennai. She will then head west to Istanbul, continuing overland through Greece, North Macedonia, Albania, Italy, France, Spain, Portugal and finally England.
New Straits Times
03-07-2025
- Business
- New Straits Times
MACC moves to forfeit RM170mil linked to Ismail Sabri
KOTA BARU: The Malaysian Anti-Corruption Commission (MACC) is expected to file a court application within the next two weeks to forfeit assets worth RM170 million allegedly linked to former prime minister Datuk Seri Ismail Sabri Yaakob. MACC Chief Commissioner Tan Sri Azam Baki said the assets, which have already been seized, would be forfeited to the government if the court rules in its favour. "In the near future, maybe within a week or two, we will file the application in court to forfeit the assets we have seized, worth about RM170 million. "That is the current decision by the Deputy Public Prosecutor," he said. Azam was speaking at a press conference after witnessing the handover of the Kelantan MACC director's post from Rosli Husain to newly-appointed Azmin Yusuff here today. Azam added that if Ismail Sabri chooses to contest the forfeiture, the case would proceed to trial. When asked whether any criminal charges would be filed against Ismail Sabri, Azam said that decision lies with the Attorney-General's Chambers. "We have completed our investigation and submitted the papers. It is now up to the DPP to decide whether there is a basis for criminal prosecution," he said. On June 25, it was reported that the MACC was planning to forfeit RM177 million in cash and assets linked to a probe into alleged corruption and money laundering involving Ismail Sabri. In March, the MACC seized about RM170 million in cash, held in various foreign currencies, along with 16kg of gold bullion worth around RM7 million, following investigations into alleged corruption and money laundering linked to the Bera member of parliament.
New Straits Times
01-07-2025
- Business
- New Straits Times
Limited impact on Petronas Gas earnings after pipeline incident
KUALA LUMPUR: CIMB Securities remains upbeat on Petronas Gas Bhd (PetGas), maintaining a "buy" recommendation on the counter despite a projected RM60 million earnings impact from the April 1 pipeline failure in Putra Heights. The research house said PetGas's steady earnings outlook, strong balance sheet and solid dividend yield continue to support its valuation, with a discounted cash flow-based target price unchanged at RM19.08. "At a forecast price-to-earnings ratio of 17.7 times for the financial year 2025, the stock appears fairly priced given its strong fundamentals and stable cash flow profile," it said in a note today. The firm also downplayed concerns over regulatory penalties or third-party liabilities, noting that official investigations had attributed the incident to environmental and geological factors beyond the company's control. The Department of Occupational Safety and Health concluded that unstable soil beneath the gas transmission pipeline led to physical failure and a gas leak, which triggered the fire. Police investigations found no evidence of foul play, while the pipeline was confirmed to have met all technical specifications. Selangor Menteri Besar Datuk Seri Amirudin Shari said the incident was due to multiple environmental factors, including unstable soil, prolonged underground water retention, compromised drainage systems and urban development. PetGas has estimated a total earnings impact of RM60 million for the financial year ending Dec 31, 2025, which will be largely recognised in the second and third quarters. The company expects repair and asset restoration costs to reach approximately RM170 million, with a portion to be capitalised under capital expenditure (capex). Insurance claims are projected to recover less than RM50 million, while revenue loss from service disruption is estimated at around RM20 million. Despite the setback, PetGas is forecast to post a core net profit of RM1.97 billion in financial year 2025, up from RM1.82 billion in 2023. Dividends are expected to increase slightly to 75 sen per share, representing a yield of 4.3 per cent.
