I wasn’t against Boustead overhaul but wanted options, says Khaled Posted on 19/11/2024 Defence minister Khaled Nordin pointed to alternative restructuring plans such as the initiative carried out by Permodalan Nasional Bhd in Sime Darby Bhd. PETALING JAYA: Defence minister Khaled Nordin says he was not against the restructuring of shareholdings of Boustead Holdings Bhd in the plan dubbed Project Moonshot, but had asked for studies of the plan and a proposed alternative before bringing it to the Cabinet. A report published by the Public Accounts Committee quoted him as pointing to alternatives such as the similar restructuring carried out by Permodalan Nasional Bhd (PNB) in Sime Darby Bhd. “(PNB) used an alternative in which it had investments in many companies. But PNB has more than RM100 billion in funds, so they could do it. However, the Armed Forces Fund Board (LTAT) only has RM10 billion,” he said. Khaled also pointed to the “Khazanah model”, in which UEM Group is 100% owned by Khazanah Nasional Bhd and had majority shares in other companies. “All I said was that I want more time. The board (of directors) has to convince me (which manner of restructuring) is best in the long term for what has been built up. “Boustead’s assets are worth RM14, RM15 billion. True, their debts are worth RM7 billion, but their assets are bigger than their debts. ‘Why do you want to sell?’ That was my question,” he said. MORE TO COME News
MCMC tells news portal to remove content on Sabah bribery case Posted on 17/11/2024 According to Malaysiakini, the letter from the Malaysian Communications and Multimedia Commission said the article and video could compromise the safety and privacy of the complainant. (MCMC pic) PETALING JAYA: The Malaysian Communications and Multimedia Commission (MCMC) has urged online news portal Malaysiakini to take down an article and video… Read More
Oil prices rise on US demand surge, weaker dollar, Mideast ceasefire Posted on 27/11/2024 The international oil benchmark of Brent crude rose 0.43% to US$72.49 per barrel. (Bloomberg pic) ANKARA: Oil prices increased today with a demand surge in the US, the world’s biggest crude consumer, and weakened US dollar index, while a ceasefire deal in the Middle East dampened supply woes among market… Read More
Nahas bas mini, 26 maut di Cote d’Ivoire Posted on 07/12/2024 Seramai 26 maut, manakala 28 lagi cedera dalam nahas maut di laluan Issia-Daloa, Barat Cote d’Ivoire. (Gambar Facebook) BIDJAN: Sekurang-kurangnya 26 maut, manakala 28 lagi cedera dalam nahas di laluan Issia-Daloa, Barat Cote d’Ivoire pada petang Jumaat, menurut kenyataan Kementerian Pengangkutan negara itu. Kenyataan itu memaklumkan tragedi berlaku berhampiran kampung… Read More