In today’s edition of Evening 5 — MSM Malaysia CFO Dr Mazatul 'Aini Shahar Abdul Malek Shahar is on garden leave amid an internal investigation. Meanwhile, ex-Felda chairman Tan Sri Mohd Isa Samad will know the outcome of his graft conviction appeal on Nov 28.
Category
🗞
NewsTranscript
00:00 [Music]
00:04 MSM Malaysia Holdings said its Chief Financial Officer, Dr Mazatul Aini Shahab Abdul Malik Shahab,
00:10 is on garden leave from October 20th to December 15th or until further notice from the board.
00:16 In a filing with Borsa Malaysia, the sugar refinery company said her absence is necessary
00:22 to facilitate an ongoing internal investigation.
00:25 The group will continue its business operations as usual.
00:29 MSM said it will make further announcements if there are material developments on this matter.
00:34 Mazatul Aini was appointed as MSM's CFO on December 1st, 2022.
00:40 Prior to holding the position at MSM, she was an independent non-executive director at 711
00:46 Malaysia Holdings and TH Heavy Engineering and an audit committee member of both firms.
00:52 She is an independent non-executive director of IGN Holdings.
00:56 At the close, MSM's shares were 1.6% lower at RM1.24,
01:02 giving the group a market capitalisation of RM871.7 million.
01:07 The Court of Appeal has fixed November 28th to deliver its decision on former
01:17 Felda chairman Tan Sri Muhammad Iser Samad's appeal over his graft conviction
01:22 in relation to the purchase of a hotel in Kuching, Sarawak almost 10 years ago.
01:27 Deputy Public Prosecutor Afzainizam Abdul Aziz confirmed this.
01:31 Iser is appealing his six-year jail sentence and a RM15.45 million fine
01:37 meted out by the High Court on February 2nd, 2021, after finding him guilty of nine counts of graft
01:43 in receiving RM3.09 million from Gagasan Abadi Properties Director Ikhwan Zaidil
01:49 for the purchase of Merdeka Palace and suites.
01:52 This was to facilitate Felda's purchase of the hotel for RM160 million.
01:56 Iser allegedly received the sum in nine tranches via his former aide,
02:02 Muhammad Zahid Arif at Munarra Felda from July 21st, 2014 to December 11th, 2015.
02:09 He was granted a stay of execution of his sentence pending the appeal.
02:18 Borsa Securities has denied a request by Serbadinamik Holdings for an extension
02:23 to release its annual report for FY2023.
02:27 In a filing with Borsa, the company said it was informed of the market regulator's decision on
02:32 Wednesday. It will be making an appeal to Borsa against the rejection.
02:37 On October 17th, the troubled company had submitted its request for another three-month
02:42 extension until January 15th, 2024, to submit its FY2023 annual report, saying it needed more time
02:50 to accommodate the current extensive audit requirements given the current financial and
02:55 workforce limitation. The initial deadline to submit the annual report was October 31st this
03:02 year. Serbadinamik slipped into PN17 status in January 2022. Trading in its securities has been
03:10 suspended since January this year in respect of a winding up order by six financial institutions.
03:17 It was last traded at 2 cent per share.
03:19 Centoria Group said Ambias B Bank has filed winding up petitions against the company and
03:30 its units, Centoria Bina, over a judgment debt of RM303,268, which comes with a late payment
03:38 charge of 1% per annum. The judgment debt follows the KL Sessions Court's decision
03:44 regarding the settlement of outstanding balance of a higher-purchase-I facility granted by Ambias
03:50 B Bank to Centoria Bina. Centoria provided corporate guarantee on the said facility.
03:56 The winding up petitions will be heard on November 16th, 2023, for Centoria Bina and
04:01 January 18th, 2024, for Centoria Group at the Shah Alam High Court. Except for the legal fees and
04:08 disbursements involved to challenge and oppose the winding up petitions, Centoria does not expect
04:14 any material impact on its finances and operations, nor any further loss. At a close, Centoria's share
04:21 price was unchanged at 7.5 cent, translating into a market capitalization of RM47 million.
04:27 RHB Bank and Boost Holdings have raised the paid-up capital of 4060 Digital Bank
04:39 Joint Venture Boost by RM85 million. This is to continue meeting the minimum capital
04:45 funds requirement of RM100 million unimpaired by losses. For this purpose, RHB has subscribed
04:51 to 34 million new shares in Boost at RM1 apiece for RM34 million, while Boost Holdings has
04:58 subscribed to 51 million new shares for RM51 million. According to reports in May, Boost is
05:04 set to launch as one of Malaysia's five digital banks by the end of this year. The five licenses
05:10 were awarded by Bank Negara Malaysia last April, following a six-month application period initiated
05:16 at the start of 2021. Aside from the net capital fund requirement of RM100 million, a digital bank
05:23 would have a cap of its total assets of RM3 billion during its three- to five-year foundational phase,
05:29 according to Bank Negara's Digital Bank License Framework.