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Federal Court rules ex-S gor MB empowered to approve VSS payout on his own

Federal Court rules ex-S gor MB empowered to approve VSS payout on his own Modified7:37 am - Eight former staff of former Selangor menteri besar Abdul Khalid Ibrahim can keep the RM2.7 million paid to them as compensation in a voluntary separation scheme (VSS) in 2014. This follows a unanimous decision by a Federal Court five-member bench led by Court of Appeal president Rohana Yusuf in allowing the former staff s appeal to set aside the appellate court s decision which went against them. Justice Rohana said the Selangor Menteri Besar Incorporated (MBI), established under the MBI Enactment, is a sole legal entity. She said that at the material time, Khalid was legally empowered.

Resintech, TDM, M3 Technologies, Puncak Niaga, FGV

Polyvinyl chloride product maker Resintech Bhd s net profit for the third quarter ended Dec 31, 2020 surged 275.87% to RM2.6 million, from RM692,000 a year earlier, backed by higher revenue. Earnings per share rose 1.9 sen from half a sen. Revenue grew 25.16% to RM21.63 million from RM17.29 million due to higher cost of sales. TDM Bhd said its chief financial officer Amir Mohd Hafiz Amir Khalid has tendered his resignation, effective from Feb 28, to pursue other career opportunities. M3 Technologies (Asia) Bhd has announced the retirement of Lim Seng Boon, 63, as its group managing director. The Court of Appeal today allowed Puncak Niaga Holdings Bhd s appeal to reinstate its RM14 billion case against former Selangor menteri besar Tan Sri Abdul Khalid Ibrahim and the Selangor government. The appellate court, however, dismissed the inclusion of another former Selangor menteri besar, Datuk Seri Mohamed Azmin Ali, as a defendant. The company sued the three parties in November 201

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