The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.
PETALING JAYA: ARB Bhd
’s wholly owned subsidiary Arbiot Sdn Bhd has received and accepted a letter of award yesterday from Prinsiptek Corp Bhd to carry out an Internet of Things (IoT) contract for the systems, engineering, procurement, commissioning and management for a proposed residential development at Shah Alam, Selangor for RM60.43mil.
This is the second consecutive IoT contract garnered by ARB, the company formerly known as Aturmaju Resources Bhd. The day before, it had secured an RM18mil contract for a proposed residential development in Perak.
For this latest RM60.43mil contract, the proposed residential development comprises one block of 13 storey service apartments of 260 units including six levels of carpark.
The duration of the the contract shall be for 18 months, from the date of this LOA.
Arbiot will act as the sole project consultant to handle all resources, scope, cost and risk of the project. It will also design and execute all pre-commissioning and commissioning activities and testing of IoT systems, including installation of wire and wireless and mechatronic works required.
The stock was up 3.5 sen to 46 sen on volume of 11.81 million shares as at 3.31pm.
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