Latest news with #RM360mil
The Star
03-08-2025
- Business
- The Star
Govt finalising talks on Mex II project, Dewan told
PETALING JAYA: Putrajaya is currently finalising discussions with the Receivers and Managers (R&M) of the Maju Expressway (Mex II) to find the best solution for completing the stalled extension project, says Works Minister Datuk Seri Alexander Nanta Linggi. According to Nanta, the discussions focus on a solution to complete the project, considering various aspects, including the project's cost, traffic impact analysis, toll rates, cash flow management, and other factors necessary to ensure the project's sustainability. 'The plan and direction of the Mex II project will be coordinated by a Central Agency together with the relevant Ministries or agencies, particularly regarding the financial model, taking into account the appropriate parameters for the assessment of the project's viability, including technical aspects, will be submitted to the Cabinet for consideration,' he said. Nanta stated this in a written parliamentary reply dated July 31, in response to Yeo Bee Yin (PH-Puchong), who had asked about updates on the Mex II project, including whether the concessionaire requires government approval for claim applications. She also inquired about the funding required for the project's completion and whether additional funding would result in higher toll rates. According to Nanta, the Mex II project was entirely borne by the concessionaire through the build-operate-transfer (BOT) method. 'All project progress confirmation, including progress claims, is reviewed and verified between the contractor, concessionaire, supervision consultant and independent checking engineer, which are submitted directly to the sukuk party,' said Nanta. 'Therefore, the progress claims for this project do not involve approval at the federal level, since it involved private financing,' he added. Mex II is a planned three-lane dual carriageway designed to connect the MEX Putrajaya interchange to the KLIA highway. The project began construction in 2016, and it was initially scheduled for completion in December 2019, but was halted due to financial issues. The 18km extension project of the Mex II also came under scrutiny recently following a graft probe into allegations of false claims involving RM360mil. Four individuals, including a Datuk Seri, were previously detained in connection with investigations into funds raised through sukuk issuance for the project. Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki had said 61 witnesses had been called in to assist with investigations In early May, the MACC seized various assets, including luxury vehicles, designer handbags, jewellery and cash totalling RM32mil from an individual with a Tan Sri title. This followed reports that MACC had opened three investigation papers related to bribery and false claims involving the Mex II project.
The Star
30-07-2025
- Business
- The Star
Sabah to develop EU-standard fishing port in KK, says Hajiji
KOTA KINABALU: A multimillion European Union-standard port is set to be constructed in Sabah to harvest tuna and other sea produce, says Datuk Seri Hajiji Noor. The Chief Minister said based on projections, this venture would see Sabah generate up to RM1.8bil annually from port landing, fishing and harvesting activities as well as spillovers from supporting industries. He said the development of this RM360mil port is an investment from Alpha Ocean Resources Bhd (AORB), who together with the City Hall (DBKK), Petco Trading Labuan Company Ltd and the state, will delve into tuna and seafood harvesting. Hajiji said Sabah is within the migratory route for tuna and has natural sheltered ports or harbours while strategically located near major producer countries such as Indonesia, Philippines and Papua New Guinea. 'We have all the pre-terms needed - location, source, infrastructure and policy support - to drive Sabah into a world-standard for landing, processing and exporting sea produce,' he said, while assuring that modern fishing would not harm traditional fishermen in the state. He said this after witnessing the signing of a Memorandum of Understanding (MOU) between DBKK with Petco Trading Labuan Company Ltd and a Memorandum of Agreement (MOA) between DBKK and AORB here, Wednesday (July 30). With the MOA, AORB will invest RM360mil to develop this EU standard port for tuna and seafood landing in Kota Kinabalu, Hajiji said, adding that this project is expected to take 18 months to complete. Some 1,000 job opportunities are set to be opened up after that, he said, adding that this port will follow strict EU standards such as Hazard Analysis and Critical Control Points (HACCP), tractability, Illegal, Unreported and Unregulated (IUU) monitoring and overall food security. 'With this facility, we would be able to penetrate the premium export market which had been hard to reach due to the absence of suitable facilities,' he said. Hajiji said Malaysia's participation in the Western and Central Pacific Fisheries Commission (WCPFC) will also turn this port into a legal anchoring centre for licensed fishing vessels globally. Earlier, he mentioned that the welfare of local fishermen and coastal villagers would not be sidelined because an inclusive development model will be drawn up to benefit these communities and at the same time, ensure sustainability of the industry. Other than this venture, the MOU signed between DBKK and Petco Trading Labuan Company Ltd is set to develop a biogas energy complex at the Kayu Madang landfill. This project aims to extract methane gas from solid waste to green electricity by around 2 Megawatts, Hajiji said. This additional power source will benefit the Kota Kinabalu Industrial Park (KKIP), he said. He said both these initiatives were in line with the Sabah Blue Economy Agenda which emphasises on sustainable development, adding value to the fisheries industries and transitions to greener energy.
The Star
12-06-2025
- The Star
MACC grills Tan Sri over alleged sukuk fund misuse
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has questioned a Tan Sri for six hours in connection with an investigation into the alleged misappropriation of sukuk funds meant for a Klang Valley highway project. MACC Chief Commissioner Tan Sri Azam Baki said the statement was recorded yesterday and concluded at 3pm. Another session is scheduled for today. Due to health reasons, the questioning took place at the Tan Sri's house in the Klang Valley. To date, MACC has interviewed 52 witnesses, including the Tan Sri and his family members. A separate raid was also conducted at his residence in Melaka, although no items were seized. The investigation centres on the suspected misappropriation of sukuk bonds issued to finance the construction of the highway. On June 3, MACC seized a luxury condominium, a plot of land valued at RM24.5mil, and nine vehicles worth RM7.65mil. Authorities also froze 14 personal bank accounts with RM4.5mil and eight company accounts holding RM33mil. In addition, anti-graft officers seized luxury watches worth approximately RM25mil, handbags valued at RM3mil, jewellery and diamonds worth RM6mil, four horses estimated at RM400,000, and premium alcoholic beverages valued at RM3mil. Azam previously disclosed that between 2016 and 2020, investigations revealed misconduct involving RM1.35bil in approved sukuk funds. This included false claims totalling RM360mil, RM416mil, and RM50mil through other bank facilities. 'The RM1.67bil highway project also failed to meet its completion schedule. Investigations are now focused on RM12bil in alleged bribes paid to certain parties as an inducement to facilitate the movement of funds out – and back – to the suspect,' Azam said in a June 3 statement, adding that the funds are also believed to have been used for money laundering activities. — Bernama
The Star
05-05-2025
- The Star
Datuk re-arrested over submission of false claims worth RM450mil
KUALA LUMPUR: A man with the title of Datuk who was released from remand on Saturday (May 3) was rearrested by the Malaysian Anti-Corruption Commission (MACC) in connection with an ongoing case of submitting false claims worth RM450mil. An MACC source said that the man in his 60s was arrested with another suspect, in his 50s, when they showed up at the MACC Headquarters in Putrajaya at 7pm on Sunday to provide their statements. Both men have been remanded this morning, with the Datuk being remanded for two days until Tuesday, and the other man for five days until Friday. "Preliminary investigations found both suspects were believed to have submitted false claims worth about RM450mil using sukuk funds and obtained facility from a regional office in a highway construction project in Klang Valley worth about RM1.3bil. "The arrests follow previous arrests involving false claims worth about RM360mil, with a total of RM800mil," they said, adding that five individuals were remanded over the case, with four being released on MACC bail last week. Meanwhile, MACC investigation division senior director Datuk Zainul Darus confirmed the arrests when contacted, adding that the case is being investigated under Section 18 of the MACC Act 2009. - Bernama
The Star
04-05-2025
- The Star
Former CEO in hot water
KUALA LUMPUR: A former chief executive officer of a company has been remanded for three days until tomorrow for allegedly submitting claims containing false particulars amounting to RM360mil. The remand order was issued by Registrar Eleanor Mako Timothy following an application by the Malaysian Anti-Corruption Commission (MACC) at the Putrajaya Magistrate's Court yesterday. According to a source, the suspect, a man in his 40s, was arrested at about 11pm on Friday when he went to give his statement at the MACC headquarters in Putrajaya. 'Initial investigations found that the suspect is believed to be involved in submitting documents containing false particulars to make claims amounting to about RM360mil using sukuk funds in a highway construction project worth RM1.3bil," said the source, Bernama reported. MACC senior director of the Investigation Division Datuk Zainul Darus, when contacted, confirmed the arrest and said that the case was being investigated under Section 18 of the MACC Act. He said four individuals, three men and one woman, including one with the title Datuk Seri, aged between 40 and 80, who were remanded last Wednesday in connection with the same case, had been released on MACC bail.
