KUALA LUMPUR (Bernama): The Sessions Court here has granted a discharge not amounting to an acquittal to Datuk Abdul Latif Abdul Rahim for abetting his brother, former Tabung Haji chairman Datuk Seri Abdul Azeez, with accepting bribes involving highway construction projects and road upgrades in Perak and Kedah.
Deputy Public Prosecutor Adam Mohamed said judge Azura Alwi made the decision after the prosecution applied for Abdul Latiff to be given a discharge not amounting to an acquittal by making him a prosecution witness. The Attorney General’s Chamber (AGC) considered the application by the defence to drop the charges against Abdul Latif after two representations were submitted to the AGC three months ago.
tumbled after trade resumed Tuesday on news that controlling shareholder Lembaga Tabung Angkatan Tentera (LTAT) has aborted a plan to buy out minority shareholders and take the company private.
The decision came eight months after LTAT, which owns a 59.4% stake in Boustead, announced that it was planning to delist the company.
Boustead group managing director Datuk Seri Mohammed Shazalli Ramly said both parties have decided to focus on Boustead’s strategies to rejuvenate the group. It has stakes in several listed entities. It has controlling interest in 65% owned Boustead Heavy Industries Corp and 56% in Covid-19 vaccine-maker Pharmaniaga Bhd
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Factory output drops
Located 5km north of the heart of Kuala Lumpur, Sentul is a juxtaposition of pre-war buildings with their old-world charm and futuristic skyscrapers that punctuate the skyline.
Steeped in history, the former railway hub went through a period of decline before YTL Land & Development took over the 294-acre Sentul Raya development from Taiping Consolidated Bhd and unveiled the Sentul Masterplan comprising Sentul East and Sentul West in 2002, which turned the place around.
Fast forward to today, Sentul is especially well-known for the Kuala Lumpur Performing Arts Centre (klpac), which opened in 2005, and the Sentul Depot event space, which was officially opened by YTL Land in 2018. The area is also fast becoming a desired address to live in with iconic condominiums such as The Capers and The Fennel in Sentul East, and the upmarket The Maple condominium, which is situated in a park.
AFTER two deadline extensions, Lembaga Tabung Angkatan Tentera (LTAT) has decided to take its listed flagship group Boustead Holdings Bhd private, say sources. The armed forces fund has until Feb 2 to make up its mind on the proposed privatisation.
Sources with knowledge of the matter tell The Edge that instead of LTAT making a general offer, the privatisation of its 59.43%-owned subsidiary Boustead can be done via a selective capital reduction and repayment (SCR) exercise. The armed forces fund is also likely to raise its indicative price of 80 sen per share that was proposed in May last year.
“The offer price could potentially be more than 90 sen per share, or maybe even RM1 per share, taking into account the fact that the value of Boustead’s stakes in three public-listed companies Boustead Plantations Bhd (57.42%), Pharmaniaga Bhd (55.93%) and Affin Bank Bhd (20.73%) have increased over the past few months,” says a source.
Shares in Boustead Holdings Bhd rose as much as 9.5 sen or 14.3% earlier this morning after news broke again that Lembaga Tabung Angkatan Tentera (LTAT) had decided to take the company private. As at 12.10pm, Boustead had pared some of its gains and was up 7.52% or five sen at 71.5 sen, valuing the company at RM1.45 billion. Some 25.93 million shares were traded. While the counter was down 23% from 93 sen a year ago, it was still 104% higher from last year’s trough of 35 sen.