Latest news with #RM4.27
New Straits Times
20-05-2025
- Entertainment
- New Straits Times
#SHOWBIZ: Justin Bieber reportedly near financial ruin before RM850mil music catalogue sale
NEW YORK: Justin Bieber was reportedly on the verge of financial ruin before selling his music catalogue for US$200 million (RM853.92 million) two years ago. Sources close to the pop star told TMZ's "What Happened To Justin Bieber" that he was facing "financial collapse" when he made the sale to Hipgnosis Songs Capital. Bieber, 31, had reportedly spent the entirety of his estimated career earnings, ranging from US$500 million to US$1 billion (RM2.13 billion to RM4.27 billion). His manager, Scooter Braun, had reportedly advised him against such an early sale, suggesting Bieber wait until early 2023 to secure a tax advantage. Although the sale was not publicly reported until late January 2023, TMZ revealed that the Grammy winner completed the deal in December 2022, making him the youngest musician to sell his catalogue. Despite these reports, Bieber's team has denied claims of "financial distress" following the cancellation of much of his 2022 Justice world tour. They also refuted allegations that he owes Braun's company US$20 million (RM85.43 million). "Any source that is trying to sell you a story about alleged financial distress either doesn't understand the entertainment industry or, more likely, is trying to paint an unflattering portrait of Justin, which bears no resemblance to reality," Bieber's team informed The Hollywood Reporter.
New Straits Times
16-05-2025
- Business
- New Straits Times
UAE's Almal Real Estate enters Southeast Asia with luxury project in Bali
KUALA LUMPUR: Almal Real Estate Development, the United Arab Emirates (UAE)-based developer, has announced its entry into Southeast Asia with the launch of its first international project, 'The One by Almal', in Bali, Indonesia. Its founder, Dmitriy Starovoitov said the company is shaping the future of resort-style living globally, and its expansion into Southeast Asia is a strategic move following its strong performance in the UAE. "Our mission extends beyond delivering iconic developments—we aim to foster meaningful connections with like-minded investors, partners, and industry stakeholders who share our passion for innovation and excellence," he said in a statement. The project, located in Nusa Dua, marks the start of its 2030 expansion plan, which includes future developments in Thailand, Vietnam, the Philippines, Seychelles, and Mauritius. 'The One by Almal' will introduce a residential resort-style living concept, combining beachfront villas, residences, and townhouses with curated resort services, wellness programmes and signature dining experiences. The developer is known for landmark projects such as The Unexpected Al Marjan Island Hotel & Residence in Ras Al Khaimah, which achieved record-breaking sales, and Harrisoni Villas in Dubai, a collection of luxury beachfront properties valued at over US$30 million each. (US$1=RM4.27) Almal is also behind the Smart Space concept, set to be the UAE's first branded off-plan business centre, and is actively exploring new investment avenues through digital platforms such as the upcoming 'The One' app. The Bali project marks a significant step in Almal's international journey as it seeks to redefine luxury real estate experiences in emerging and high-growth markets.
