Wee: Why is a fashion firm an SPV shareholder?


GEORGE TOWN: Checks showed that a local fashion company is a shareholder of the special purpose vehicle (SPV) for the RM6.3bil Penang undersea tunnel project and not major Chinese construction firms as promised.

However, in a recent statement to Bursa Malaysia, the company had announced that it was diversifying into construction.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Nation

Johor Bersatu leader wants govt to step up efforts to protect data after threats
Former Sindumin rep Dr Yusof takes over as SDB chairman
Zahid says no doubt of support from Umno grassroots to remain in unity govt
Cop in viral petrol station slap pulled from operations, still on active duty
Energy transition to power Sarawak’s growth under 13MP
AGC dismisses representation by policeman over Nur Farah Kartini's murder
LBS strengthens long-term growth strategy
Armed Forces pledges full cooperation with any probes
When sound becomes a silent threat: Why young Malaysians must stop using earbuds while walking in public
Early Schooling Assistance of RM150 should be given to parents in full, says Fadhlina

Others Also Read