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More cash, less control - New mantra for Malaysia's Khazanah

KUALA LUMPUR/SINGAPORE: Malaysian sovereign wealth fund Khazanah Nasional will unveil a plan this month to deliver more cash to the government by pruning its stakes in non-strategic assets and dialling back its offshore presence in spots such as London, sources told Reuters

Under the new strategy, set to be announced at Khazanah's annual review on Feb. 28, the $39 billion fund will look to trim stakes in some companies identified as non-strategic to 15-25 percent - near the typical holding levels of pension funds, two of the sources told Reuters.

TRX to get RM2.15bil financing

KUALA LUMPUR: Australian-listed Lendlease and TRX City Sdn Bhd (TRXC) have secured a RM2.15bil financing facility for its Lifestyle Quarter joint-venture (JV) development at the Tun Razak Exchange (TRX), a project that has come under scrutiny due to its association with scandal-ridden 1Malaysia Development Bhd (1MDB).

(From left) Lendlease group chief executive officer and managing director Steve McCann, Finance Minister Lim Guan Eng and TRX City Sdn Bhd chief executive officer Datuk Azmar Talib by a miniature of the Lifestyle Quarter project that is being jointly developed by Lendlease and TRX City Sdn Bhd.

Of mistakes, bloopers and emojis

THE year 2019 is starting to look interesting. After a boring January where nothing much happened, the pace is picking up both in business opportunities and political activities. After getting the New Year and Chinese New Year celebrations out of the way, entrepreneurs and politicians have started planning and strategising for the year ahead.

Human governance is key to better corporate integrity

THE primary aim of the Malaysian Code of Corporate Governance 2017 (MCCG) is to instil greater governance culture not only among listed entities but also among all companies which are now encouraged to adopt the practices outlined.

Rules to comply with: In addition to what has been spelt out under the Malaysian Code of Corporate Governance 2017, listed companies have another level of compliance to adhere to under Bursa Malaysia’s Listing Requirements. — Bernama

Goldman Sachs says 1MDB scandal could hit pay for top executives

NEW YORK: The board of Goldman Sachs Group Inc said on Friday it is withholding a bonus worth at least US$7 million from former chief executive Lloyd Blankfein until investigations into the bank's involvement in the 1MDB scandal are resolved.

The bank also introduced a new forfeiture provision in its annual compensation plans for its top executives, including Chief Executive David Solomon(pic) and former head Blankfein, relating to the ongoing 1MDB proceedings.

The Jho Low factor in the ECRL talks

IRONICALLY, the decision to place the “on-off-on and now uncertain” East Coast Rail Link (ECRL) project in the hands of the governments of Malaysia and China comes just ahead of the start of the trial of former Prime Minister Datuk Seri Najib Tun Razak.

Deloitte seeks review of SC’s RM2.2mil fines linked to 1MDB sukuk

PETALING JAYA: Audit firm Deloitte PLT said it is “disappointed” with the Securities Commission’s (SC) decision to impose administrative sanctions on the company for four purported breaches of two reporting provisions under the Capital Market Services Act, which it said were technical in nature.

Deloitte is one of the big four international accounting companies. The firm acted as auditor for the units, Bandar Malaysia and 1MDB Real Estate, for the financial years 2015 and 2016.

SC raps, fines Deloitte RM2.2m over Bandar Malaysia RM2.4b sukuk

KUALA LUMPUR: The Securities Commission Malaysia (SC) has reprimanded and imposed penalties on Deloitte PLT (Deloitte) for four breaches related to the RM2.4 billion Sukuk Murabahah Programme issued by Bandar Malaysia Sdn Bhd (BMSB) in 2014.

The Securities Commission Malaysia (SC) today reprimanded and imposed penalties on Deloitte PLT (Deloitte) for four breaches related to the RM2.4 billion Sukuk Murabahah Programme issued by Bandar Malaysia Sdn Bhd (BMSB) in   2014.