Latest news with #RM230
The Star
27-05-2025
- Politics
- The Star
Penang undersea tunnel graft trial witness ‘compelled' to tell truth due to evidence
KUALA LUMPUR: A key prosecution witness in the Penang undersea tunnel project trial said he was compelled to tell the truth after being presented with extensive evidence and new documents by graft investigators. The witness said this was despite initially intending to exonerate former Penang chief minister Lim Guan Eng. Consortium Zenith Construction Sdn Bhd (CZCSB) former director Datuk Zarul Ahmad Mohd Zulkifli admitted he could not deny the events, even though his testimony might damage Lim's reputation. "In this case, I didn't want to involve Lim Guan Eng in anything or any investigation," he told the Sessions Court on Tuesday (May 27). He said the Malaysian Anti-Corruption Commission (MACC) presented substantial evidence from previous witnesses and documents he had never seen before, compelling him to testify truthfully. Zarul Ahmad previously testified that he felt indebted to Lim for awarding his company the project and had tried to shield Lim from investigation by bribing a businessman to halt MACC investigations. He also admitted to forging payments through his staff to conceal bribes made to Lim. "It was a measure to protect Lim and ensure there's no financial trail leading to him," he said when re-examined by Deputy Public Prosecutor Datuk Wan Shaharuddin Wan Ladin. Zarul Ahmad was questioned about discrepancies in his statements regarding payments made to influence investigations. Wan Shaharuddin asked about earlier cross-examination statements where Zarul said he paid money to protect Lim Guan Eng, while during impeachment proceedings, he said he paid RM19mil to close an investigation against him. This investigation was being conducted in connection to offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLA) Zarul Ahmad explained that the two were related as an AMLA investigation could lead to Lim, and he aimed to prevent that by paying to avoid a case. He then added that Lim was aware of his efforts - including payments - after he met with Lim about businessman G. Gnanaraja. Zarul clarified that he paid RM19mil to Gnanaraja, introduced to him by former minister Datuk Seri Nazri Aziz and said to be close to then Prime Minister Datuk Seri Najib Razak, to close the MACC investigation, not RM22mil as previously stated. He admitted his actions were driven by a desire to protect Lim, insisting he did not lie. Zarul Ahmad was then released from court, ending his testimony. MACC investigating officer Ng Heng Jun, who handled a previous case involving Zarul and Gnanaraja in Shah Alam, testified as the 36th prosecution witness. In the 2019 Shah Alam case, Zarul sued Gnanaraja for cheating him of RM19mil to induce dropping money laundering charges. Gnanaraja pleaded guilty to an alternative charge under the Companies Act and was fined RM230,000, while the cheating case was classified as "no further action (NFA)". A 108-page statement by Zarul to the MACC for the Shah Alam case was used in this court to impeach Zarul's credibility due to conflicting statements involving Gnanaraja. Lim, 64, faces an amended charge of using his position as Penang chief minister to solicit RM3.3mil in bribes to help Zarul secure the undersea tunnel project worth RM6.34bil. Lim allegedly committed the offence at the Penang Chief Minister's Office, Level 28, Komtar, George Town, between January 2011 and August 2017. In a second amended charge, Lim is accused of soliciting a 10% profit from the company as gratification to secure the project. The offence was allegedly committed near The Gardens Hotel, Lingkaran Syed Putra, Mid Valley City, in March 2011. Lim faces two further charges of causing two plots of land worth RM208.8mil, belonging to the Penang government, to be disposed of to two companies linked to the project. The trial before Judge Azura Alwi continues on June 24.
New Straits Times
27-05-2025
- Business
- New Straits Times
TM's fibre deal with U Mobile to boost earnings by up to RM230mil in FY27 — CIMB
KUALA LUMPUR: Telekom Malaysia Bhd's (TM) recent contract win from from U Mobile to provide fibre backhaul services for the second 5G network is expected to generate RM100 million to RM230 million in its revenue for the financial year 2026 (FY26) and FY27. CIMB Securities Research said this development comes as little surprise, given that TM has by far the most extensive domestic fibre network in Malaysia and is thus the best-positioned to support U Mobile in achieving its 5G coverage targets of 80 per cent by the second half of 2026 (2H26) and 90 per cent by 2H27. The firm said the contract implies that TM will generate an average revenue of RM240 million per annum (pa) once fibre connectivity has been fully provided. "However, to be conservative, we assume that TM will only generate RM100 million in revenue in FY26. "This is because U Mobile may want to start the fibre backhaul leases closer to the commercial launch of its 5G services in 2H26 to minimise expenses and given that it has prepaid RM233 million for 5G wholesale leases from Digital Nasional Bhd (DNB)," it said. Thereafter, CIMB Securities expects TM's revenue from the contract to climb to RM230 million in FY27 (and to RM240 million pa from FY28). To roll out the fibre, the firm has assumed that TM would need to incur capex of RM430 million over FY26 to FY27, or 18 per cent of the 10-year contract revenue. "Factoring in these assumptions, we have raised our FY26 to FY27F core earning per share (EPS) estimates by 2–4 per cent. Post revisions, we forecast TM's core EPS to grow 5.6 per cent/2.7 per cent/2.2 per cent year on year in FY25/FY26/FY27, respectively. "This is an improvement over our earlier projections of largely flat core EPS in FY26 to FY27." CIMB Securities has reiterated its 'Buy' rating on TM, raising its target price by 4 per cent to RM7.55 following the upward revision in earnings forecasts.
The Sun
20-05-2025
- Business
- The Sun
Kinergy Advancement secured RM646.3m EPCC contract for Sabah power infrastructure
KUALA LUMPUR: Kinergy Advancement Bhd's (KAB) subsidiary, KAB Energy Holdings Sdn Bhd, has bagged a letter of award (LoA) from Rancha Power Sdn Bhd to undertake the engineering, procurement, construction, and commissioning (EPCC) of a 120-megawatt gas engine generator power plant in Labuan, scheduled for completion by the first quarter of 2028. According to a Bursa Malaysia filing, the LoA, dated May 13, 2025, is KAB's third major energy infrastructure contract win from Petronas Gas Bhd's Rancha Power Sdn Bhd unit. Rancha Power is a joint venture comprising PG Energia Sdn Bhd, a subsidiary of Petronas Gas, Sustainable Power Sdn Bhd, a subsidiary of Sabah Electricity Sdn Bhd, and SEC Power Sdn Bhd, a subsidiary of Sabah Energy Corporation Sdn Bhd, established to collaboratively manage the development and ownership of this 120MW power plant. The filing noted that the awarded EPCC contract is worth RM646.3 million for a new 120MW dual-fuel gas engine power plant strategically located at Rancha-Rancha Industrial Estate, Labuan, East Malaysia. This project reinforces East Malaysia's energy security and ensures long-term regional energy reliability. KAB's previous project wins include a joint venture with Petronas Gas for a RM230 million, 72MW power plant in Sabah secured on February 3, 2023. This deal includes a strategic 10% equity stake in Regas Terminal (Lahad Datu) Sdn Bhd, positioning KAB as a key local technical partner. Notably, on November 6, 2023, KAB secured an RM33.3 million EPCC contract from Pengerang LNG (TWO) Sdn Bhd. This project involved the expansion and transformation of 137,000m³ liquefied natural gas carriers into a floating storage unit (FSU). Both projects underline KAB's growing stature and established capabilities in delivering major energy infrastructure. KAB has undergone rapid and successful transformation over the past seven years, notably by the sector reclassification from engineering to energy on January 13, 2025. Transitioned from a traditional engineering company into a comprehensive sustainable energy solutions (SES) provider, reinforcing sustainable earnings through diversified services. KAB's robust technical expertise remains its core strength, clearly defining its unique value proposition in the sustainable energy landscape.
The Star
17-05-2025
- General
- The Star
World's smallest bears get bigger time in the sun
New look: The revamped exhibit is also able to accommodate more sun bears in a spacious day stall area, where the public can witness their charm up close. KOTA KINABALU: The world's smallest bear species now has a much bigger stage at Lok Kawi Wildlife Park, with the launch of a newly upgraded sun bear exhibit designed to champion conservation and captivate visitors. Sabah Wildlife Department director Mohd Soffian Abu Bakar said the revamped exhibit is also able to accommodate more sun bears in a spacious day stall area, where the public can witness their charm up close. 'It aims to strengthen conservation efforts, educate the public and raise awareness about the threats faced by this vulnerable species, especially from wildlife crime,' he said at the launching ceremony yesterday. 'It marks a major step forward in promoting conservation and improving animal welfare.' Timed perfectly with Malaysia's preparations for Visit Malaysia 2026 – where the sun bear will proudly serve as the official mascot – the launch is also expected to spark new interest among both local and international travellers. The upgrade is the result of a successful collaboration between the Sabah Wildlife Department, Wild Welfare, and the Bornean Sun Bear Conservation Centre (BSBCC). Fresh enrichment features and furniture have been installed to provide a more engaging environment to stimulate the sun bears' natural behaviours, creating a more dynamic and welfare-focused setting for the bears living in captivity at the wildlife park. The RM230,000 upgrade, which began in January and wrapped up on April 24, offers visitors a closer and more meaningful experience with one of Malaysia's most iconic wildlife species. Dr Wong Siew Te, founder of the BSBCC, described the sun bear as 'the smallest bear species, but one of the most threatened, often falling victim to the illegal wildlife trade'. 'This exhibit not only provides a better living environment for the bears but also helps the public understand the urgent need for their conservation,' he said. Simon Marsh, operations manager at Wild Welfare, praised the park's efforts, calling it inspiring to see Lok Kawi Wildlife Park prioritising the mental and physical well-being of its animals. He said Wild Welfare will continue to support the wildlife park by providing training and technical advice to assist in further improvements. Currently, Lok Kawi Wildlife Park is home to seven sun bears – three males and four females – many of whom were rescued from illegal ownership or voluntarily surrendered to the Sabah Wildlife Department. Since 2015, the park has successfully rehabilitated and released 13 sun bears back into the wild, reinforcing its critical role as a rescue and rehabilitation centre. The newly upgraded sun bear exhibit is now open to the public daily from 9am to 5pm.
The Sun
08-05-2025
- Automotive
- The Sun
M'sian stunned as Chinese driver refunds RM230 after accident
GETTING into an accident is every driver's nightmare, but sometimes, you encounter someone who is remarkably understanding. This was the case for Malaysian woman @misznyna_, who recently shared her experience after accidentally knocking into an Axia in front of her. Expecting the worst, she immediately apologised to the driver—Mr. Lim—but was stunned by his calmness. Instead of getting angry, Mr. Lim reassured her and suggested they head to a nearby workshop to assess the damage. At the workshop, the mechanic quoted RM480 for the repair. Unfortunately, the incident happened right before her payday, and she had just replaced her car radiator. ALSO READ: British tourist: M'sian drivers 'respectful', 'roads great' 'I scraped together whatever money I could until I had the RM480. I paid RM250 first because my account has a daily limit. Then, I transferred the remaining balance later. I told him to just update me if there was anything, and I apologised again,' she wrote. To her surprise, Mr. Lim also apologised to her—despite not being at fault—and even reminded her to drive safely. But the real shock came yesterday (May 7) when @misznyna_ discovered that Mr. Lim had refunded her RM230. READ MORE: Kind bus driver praised for helping visually impaired couple In the screenshots she shared, Mr. Lim explained his reason: 'Hi, I refunded RM230 to you. I don't have to repaint, only knock it back into shape and touch up a bit of the paint at the bumper.' Confused, she asked him why he didn't fully repair it to his satisfaction, but Mr. Lim said it wasn't necessary. 'I really think he's such a good and humble person. May God bless you, Mr. Lim. May all your affairs be eased as well,' she wrote, praising his honesty and kindness.
