Latest news with #RM58mil
The Star
01-07-2025
- Business
- The Star
Five, including a datuk, charged with illegal deposit taking
SHAH ALAM: Five individuals, including a woman with the title of 'Datuk', were charged with taking deposits without a valid license and money laundering for four years at a Sessions Court on Tuesday (July 1). Datuk Suhaila Semaru, 41, her sister, Suraya Semaru, 37, brothers Muhammad Wahbah Az-Zuhaili Mohd Ariffin, 33, Muhammad Syaabil Ajwad Mohd Ariffin, 26, and Mohamad Noor Syauqi Shafiee, 30, plead not guilty and requested for trial when the charges were read to them separately in front of Judge Muhamad Anas Mahadzir. Suhaila as XFOX Market Sdn Bhd director faces 22 counts of receiving, obtaining and owning an estimated RM13mil from the illegal activities, while Suraya as chief executive officer faces 10 charges of obtaining, owning and transferring a total of RM11.1mil in funds. Mohamad Noor Syauqi is charged with obtaining and owning RM2.5mil from illegal activities, Muhammad Wahbah Az-Zuhaili faces seven charges of receiving, obtaining and using RM10.3mil, while Syaabil Ajwad faces seven charges of receiving and one charge of disposing of RM58mil of funds from illegal activities. They allegedly committed the offences under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, punishable under subsection 4(1) of the same Act, at various bank branches around Shah Alam, Petaling Jaya and Subang between November 2021 and July last year. At the same proceeding, Suhaila, Suraya and Mohamad Noor Syauqi pleaded not guilty to another charge of agreeing to accept deposits from the public without a valid licence. They are charged with committing the offence at the XFOX office in Subang Bestari from Nov 12, 2021 to July 30, 2024, under subsection 137(1) of the Financial Services Act 2013, read together with subsection 249(1)(a) and punishable under Section 137(2) of the same Act. The prosecution, led by Nurdeenie Abd Rashid and Megat Mahathir Megat Tharih Afendi, suggested RM1mil in bail for all the accused with the condition that they surrender their passports while lawyer Mohd Haziq Dhiyaudin Razali requested a reduction, pointing out that his clients cooperated fully with Bank Negara Malaysia during the investigation and had no risk of flight. Muhamad Anas allowed bail of RM100,000 for each of the accused with the condition of one surety and that their passports would be surrendered till the end of the case and set case re-mention for Aug 6. - Bernama
The Star
07-05-2025
- Business
- The Star
FBM KLCI snaps losing streak, ends at intraday high ahead of OPR decision
KUALA LUMPUR: The FBM KLCI ended its losing streak and closed at its intraday high on Wednesday, supported by buying interest in heavyweight counters ahead of Bank Negara's overnight policy rate (OPR) decision. The 30-stock index rose 13.10 points, or 0.85% to 1,549.90, its intraday high, recovering from its intraday low of 1,536.56. Across the broader market, advancers outnumbered decliners 595 to 378, with 2.84 billion shares worth RM2.43bil transacted. Bank Negara is expected to announce the OPR on April 8. According to a Bloomberg poll, four out of five economists surveyed expect the overnight policy rate to remain unchanged at 3.0%, while one projects a 25 basis point cut to 2.75%. Stock market data showed that on Tuesday, foreign investors were net buyers with RM58mil in acquisitions, while local retailers also recorded net buying of RM16mil. In contrast, local institutions were net sellers, offloading RM75mil worth of equities. Among the gainers on Bursa Malaysia, Dutch Lady jumped 70 sen to RM28.90, Malaysian Pacific Industries rose 24 sen to RM19.56, Carlsberg added 22 sen to RM19.40 and F&N climbed 22 sen to RM27.30. Nestle slid RM1.06 to RM87.44, Hong Leong Financial Group fell 46 sen to RM16.66, Panasonic Manufacturing lost 14 sen to RM13.84 and PGF declined 14 sen to RM1.76. Meanwhile, the ringgit was quoted at 4.2408, down 0.2% against the US dollar. Elsewhere in the region, Japan's Nikkei 225 fell 0.14%, Hong Kong's Hang Seng Index closed up 0.13%, South Korea's Kospi rose 0.55%, China's CSI 300 index advanced 0.61% and Singapore's Straits Times Index added 0.02%.
