Latest news with #RM6.34
New Straits Times
23-07-2025
- Business
- New Straits Times
Lim Guan Eng told businessman to open account for bribes, court hears
KUALA LUMPUR: Former Penang chief minister Lim Guan Eng instructed a businessman to open a bank account to funnel bribes linked to the Penang Undersea Tunnel project, the Sessions Court heard today. G. Gnanaraja said the DAP chairman told him this during their first meeting while travelling inside Consortium Zenith Construction Sdn Bhd (CZCSB) director Datuk Zarul Ahmad Mohd Zulkifli's car on Aug 20, 2017. CZCSB was the company awarded the RM6.34 billion Penang undersea tunnel project. The 42-year-old businessman said this while testifying as a key prosecution witness in Lim's corruption trial involving the construction of a major road and undersea tunnel project in Penang worth RM6.3 billion. Lim is also the Bagan Member of Parliament. Gnanaraja said he used his company, Bumi Muhibah Holding Sdn Bhd, as the vehicle to channel bribe payments to Lim. "The company was established on Aug 10, 2016, and registered under the names Aminah Madian and Mohd Rezal Jantan as directors. "Later, in August 2017, I intended to use this company as the vehicle for bribe payments to Lim. "This company has only one bank account, and I was the sole person authorised to withdraw money from it. "All the requests to set up the company and its account were made while I was with Lim in a car on the way to Publika on Aug 20, 2017. "Lim also had personally viewed the company's Form 49 during a visit to my house on Aug 29, the same year. "He wanted to see the document to gain personal confidence in the company's management and the preparation of its documents. "Form 49 contained details of the company's directors, managers, and secretary," he said while testifying before Judge Azura Alwi today. Gnanaraja said he was chosen to act as the middleman between Lim and Zarul because he was not affiliated with any opposition parties at the time. He recounted his first task as the middleman when he received RM2 million in cash from Zarul near Eastin Hotel in Petaling Jaya for the purpose of delivering it to Lim on Aug 18, 2017. He said Zarul had put two dark-coloured bags with hand straps and and placed them directly into the boot of his Bentley. Gnanaraja said he knew the bags contained cash because as Zarul placed the first bag, he said "1M," and repeated the same as he placed the second. By "1M", he understood that Zarul meant RM1 million. He said that on Aug 20, Zarul contacted him and said they needed to pick up Lim at the Wen Worth Hotel near Pudu. However, the trial was cut short after Gnanaraja began coughing severely and said he was feeling unwell. Lim is facing four charges of using his position as the then Penang chief minister to solicit gratification to help Zarul's company secure the undersea tunnel project. He was alleged to have sought 10 per cent of the profit to be made by the company from Zarul. He was also accused of receiving RM3.3 million for himself and causing two plots of land belonging to the state government to be disposed of to two companies linked to the undersea tunnel project. The trial is set to resume on Aug 19.
New Straits Times
23-07-2025
- Business
- New Straits Times
Witness: I was tasked with delivering RM2mil bribe to Guan Eng
KUALA LUMPUR: A key witness in Lim Guan Eng's corruption trial left the courtroom on edge today as he described how he was appointed to deliver millions in bribes to the former Penang chief minister eight years ago. Businessman G. Gnanaraja said the bribe was linked to the Penang Undersea Tunnel project, where he was appointed by Consortium Zenith Construction Sdn Bhd (CZCSB) director Datuk Zarul Ahmad Mohd Zulkifli to act as a middleman to deliver the money to Lim. CZCSB was the company awarded the RM6.34 billion Penang undersea tunnel project. The DAP chairman who sat in the accused dock was calm while listening to Gnanaraja's testimony before Sessions Court judge Azura Alwi. Gnanaraja said that between Aug 10 and 19, 2017, he and Zarul had multiple discussions about appointing him as the intermediary to deliver bribes to Lim. He said Zarul chose him based on trust and because he was not affiliated with any opposition parties at the time. Gnanaraja also revealed that he had used his company, Bumi Muhibah Holding Sdn Bhd, as the vehicle to channel bribe payments to Lim, as he was the sole person authorised to withdraw money from its bank account. "All the requests to set up the company and its account were made while I was with Lim in a car on the way to Publika on Aug 20, 2017. "Lim had personally viewed the company's Form 49 during a visit to my house on Aug 29, the same year. "He wanted to see the document to gain personal confidence in the company's management and the preparation of its documents. "Form 49 contained details of the company's directors, managers, and secretary," he said. Meanwhile, Gnanaraja said on Aug 18, 2017, he received RM2 million in cash from Zarul near Eastin Hotel in Petaling Jaya for the purpose of delivering it to Lim. "When I reached the hotel lobby, my driver parked my Bentley in front of Zarul's grey Mercedes S300. "Zarul, dressed in a white shirt and black trousers, then stepped out of his car, retrieved two dark-coloured bags with hand straps, and placed them directly into the boot of my car. "I knew the bags contained cash because as he placed the first bag, he said '1M,' and repeated the same as he placed the second. By '1M,' I understood that he meant RM1 million. "When I arrived home, I transferred both bags into my office room. I saw that the bags contained bundles of RM100 cash notes in large quantities. "I did not count the bundles in either of the two bags," he said. However, the trial was cut short after Gnanaraja began coughing severely and said he was feeling unwell. On June 24, 2022, Zarul, when testifying as witness, admitted that he gave Lim RM2 million in cash after his company was awarded the three paired roads and undersea tunnel project by the Penang government. On the delivery of RM2 million to Lim, Zarul said he contacted Gnanaraja and told him that he wanted to give some "chocolates" to "big boss" on Aug 17, 2017. He said apart from the RM2 million cash, he also paid Lim a total of RM300,000 in three stages and RM500,000 twice as part of the 10 per cent cut from the profit of the project. Lim is facing four charges of using his position as the then Penang chief minister to solicit gratification to help Zarul's company secure the undersea tunnel project. He was alleged to have sought 10 per cent of the profit to be made by the company from Zarul. He was also accused of receiving RM3.3 million for himself and causing two plots of land belonging to the state government to be disposed of to two companies linked to the undersea tunnel project. The trial is set to resume on Aug 19.
Malaysian Reserve
22-05-2025
- Business
- Malaysian Reserve
KLK posts 32% rise in 2Q profit; declares 20 sen dividend
KUALA Lumpur Kepong Bhd (KLK) reported a 31.8% year-on-year increase in net profit to RM154.27 million for the second quarter ended March 31, 2025 (2Q25), supported by stronger plantation performance. Earnings per share rose to 14.0 sen from 10.8 sen, while revenue climbed 16.2% to RM6.34 billion. The group declared a 20 sen interim dividend, payable on July 29. Plantation profit surged to RM454.3 million, thanks to higher average selling prices of crude palm oil and palm kernel. However, the manufacturing segment posted a loss of RM38.3 million, dragged by the non-oleochemical division, refinery, and kernel crushing operations. The property segment's profit also halved to RM3.5 million. For the first half of FY2025, net profit rose 8.9% to RM374.73 million on RM12.28 billion revenue. KLK executive chairman Tan Sri Lee Oi Hian said the group expects production to pick up in the second half but remains cautious due to CPO price volatility and demand uncertainties. KLK shares ended 4 sen lower at RM19.62, valuing the group at RM21.9 billion. — TMR
New Straits Times
22-05-2025
- Business
- New Straits Times
KL Kepong logs in higher net profit of RM154.27mil in Q2
KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KL Kepong) posted a 31.8 per cent jump in net profit to RM154.27 million for its second financial quarter ended March 31, 2025 from RM117.07 million a year ago, on improved plantation profit. KL Kepong's revenue rose 16.2 per cent to RM6.34 billion from RM5.46 billion a year earlier. The company declared an interim dividend of 20 sen per share for the financial year ending Sept 30, 2025 payable on July 29. KL Kepong said plantation profit improved to RM454.3 million in Q2 from RM357.7 million in the same quarter in 2024. This was largely due to higher average selling prices of crude palm oil (CPO) and palm kernel. Its manufacturing segment suffered a loss of RM38.3 million against the profit of RM56.7 million in Q2 FY2024. This was dragged down by losses from the non-oleochemical division, refineries and kernel crushing operations. Its property segment's profit dropped 53.6 per cent to RM3.5 million from RM7.6 million a year earlier. For the cumulative six months, the company's net profit rose 8.9 per cent to RM374.73 million from RM344.01 million previously. Its revenue grew 10.7 per cent to RM12.28 billion from RM11.09 billion. KL Kepong executive chairman Tan Sri Lee Oi Hian said despite the volatile external environment, its plantation division had continued to deliver strong results. "We anticipate production to improve in the second half of 2025, though fluctuations in CPO prices and external demand remain key uncertainties. "Our oleochemical sub-segment's recovery remains encouraging, and we are closely managing challenges in the refining business. "Moving forward, we remain watchful, focusing on operational efficiency, long-term value creation and sustainability," he said in a statement. As of September 2024, KLK had about 300,000 hectares of planted area.
