FashionValet founder Vivy Yusof and husband Fadzarudin plead not guilty to RM8m CBT charges Posted on 05/12/2024 KUALA LUMPUR, Dec 5 — FashionValet Sdn Bhd (FashionValet) founders Datin Vivy Yusof and Datuk Fadzarudin Shah Anuar were charged in the Sessions Court here today with criminal breach of trust involving RM8 million in investment funds belonging to Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB) six years ago. Vivy Yusof, whose full name is Vivy Sofinas Yusof, 37, and Fadzarudin, 36, pleaded not guilty when the charge was read out to them before Judge Rosli Ahmad. The married couple, as directors of FashionValet Sdn Bhd, is accused of having the common intention to commit criminal breach of trust over Khazanah and PNB investment funds entrusted to them by making a payment of RM8 million from the bank account of FashionValet Sdn Bhd to 30 Maple Sdn Bhd without the approval of FashionValet’s board of directors. The offence was allegedly committed at Public Bank Berhad, Bukit Damansara Branch, 36-40 Medan Setia 2, Plaza Damansara Bukit Damansara here, on Aug 21, 2018. The charge, framed under Section 409 of the Penal Code read together with Section 34 of the same Code, provides for a minimum sentence of two years and a maximum of 20 years in jail, whipping, and a fine, upon conviction. More to come News
Future of deep-sea mining stands at a crucial juncture Posted on 27/11/2024 Greenpeace has long warned of the risks deep-sea mining poses to the oceans’ unique and still largely unexplored ecosystems. (Greenpeace pic) UNITED NATIONS: Torn between the defenders of the world’s sea beds and industrialists eager to exploit the vast, untapped resources of the deep, the international community faces a crucial year… Read More
Asian markets stutter with focus on China as Trump picks team Posted on 12/11/2024 The lack of new stimulus from Beijing dampened sentiment after a series of measures unveiled in September fuelled a market rally. (AP pic) HONG KONG: Traders struggled Tuesday to bounce back from the previous day’s losses in most markets sparked by disappointment over China’s economic support measures, while keeping tabs… Read More
Envoy says beneficial economic ties between US and Malaysia set to continue, even with Trump administration Posted on 06/12/2024 GEORGE TOWN, Dec 5 — United States envoy Edgard D. Kagan has today downplayed the impact of the upcoming Donald Trump presidency on the country’s ties with Malaysia, saying it will continue to benefit both sides. However, the US ambassador to Malaysia conceded that the exact details of the new… Read More