In today’s edition of Evening 5 — PM Anwar says Lembaga Tabung Haji assets which were placed under a special purpose vehicle of the MoF will be returned to the fund. Meanwhile, IHH’s CFO Joerg Ayrle has been placed on garden leave and Singapore’s gaming regulator fines Genting’s Resorts World Sentosa for failing to perform customer due diligence.
Category
🗞
NewsTranscript
00:00 [Music]
00:04 Assets worth RM19.9 billion belonging to Lembaga Tabung Haji or TH,
00:09 which were placed under a special purpose vehicle of the MOF in late 2018,
00:14 will be returned to the Pilgrim Fund.
00:17 Prime Minister Dato' Sri Anwar Ibrahim said the MOF is satisfied with TH's management,
00:22 governance and financial performance and will initiate talks with the Fund on the matter.
00:27 Speaking at TH's 60th anniversary celebration today,
00:31 the PM said the move also disproves claims that the Fund's assets had been transferred
00:36 to non-Muslim ownership, ending the slander against then-Finance Minister Lim Guan Eng.
00:41 Anwar, who is also the current Finance Minister, said he has seen the records
00:46 and these assets are still being held by the Ministry.
00:49 The MOF, via its special purpose vehicle, had in December 2018
00:54 acquired TH's underperforming properties and equities in exchange for RM10 billion in sukuk
01:00 and RM9.9 billion in Islamic Redeemable Convertible Preference Shares or RCPSI.
01:06 IHH Healthcare said its Group CFO Yerke Aileh will be on garden leave effective from tomorrow
01:17 until his contract ends on January 31, 2024.
01:22 In a filing with The Boris, it said Aileh will also be on garden leave effective from September 30
01:28 until the cessation of his employment contract in Singapore, also on January 31, 2024.
01:35 The filing did not provide a reason behind Aileh's garden leave.
01:38 When contacted, IHH did not provide further comment.
01:42 Aileh was appointed as Group CFO on February 1, 2021,
01:47 eight months after Lau Soon Teck quit to pursue other interests and opportunities.
01:52 Last February, IHH's Group MD and CEO, Dr Kelvin Loh Chee Kion,
01:58 who was appointed to the role some three years ago, resigned.
02:01 His duties are being covered by Group COO Jo Sim Heng Choo
02:05 until IHH Healthcare Singapore's CEO, Dr Prem Kumar Naik,
02:09 takes over with his appointment effective from October 1.
02:13 IHH shares fell 1.85% to SGD5.85, valuing it at SGD51.52 billion.
02:20 Singapore's new gaming regulator has fined Genting's Resorts World Sentosa
02:31 over its failure to perform enhanced customer due diligence measures.
02:35 According to industry magazine Inside Asian Gaming, or IAG,
02:39 the Republic's Gaming Regulatory Authority, or GRA, issued three breach notices over the past year,
02:46 and two of them were sent to Genting's integrated resort on the island of Sentosa.
02:51 Citing details contained in the GRA's 2022-2023 annual report,
02:57 IAG reported that Resorts World Sentosa was issued with two fines,
03:01 one amounting to SGD20,000 or SGD68,777,
03:08 and another SGD75,000, that's SGD257,913.
03:15 The third notice was reportedly issued to Ceylon's Sports Club,
03:19 whose license was suspended for a month for failure to comply with regulatory requirements
03:24 relating to the screening and registration of persons and prevention of entry of excluded persons.
03:30 IAG said these represent the first enforcement actions of the GRA,
03:35 which replaced the former Casino Regulatory Authority and other agencies
03:40 as Singapore's main gaming regulator last August.
03:43 Rubber compound manufacturer GIIB Holdings has announced a significant transition in its leadership
03:55 as its CEO Tai Boon Wee handed over the reins of the business to his two sons, Tai Chi Sheng and Tai Chi Yao,
04:03 who will continue to serve as executive directors within the company.
04:07 Boon Wee's long-time lieutenant, Alison Wong Pin Kiong,
04:10 has also relinquished her role as executive director of GIIB.
04:15 In a filing with Bursa Malaysia, GIIB said both Boon Wee and Wong are stepping down from their roles with immediate effect.
04:22 This is part of the succession plan to transition leadership to the next generation,
04:27 paving the way for fresh perspectives and innovative strategies to guide the company into the future.
04:33 In a separate statement, GIIB said the move is in the best interest of the group
04:38 and that the remaining directors on the board will provide critical guidance and oversight.
04:43 GIIB's shares closed unchanged at 9 cent, valuing it at 53.22 million ringgit.
04:54 Former 1MDB President Arukan Dakanasami and ex-Treasury Sec Gen Tan Sri Muhammad Irwan Sergar Abdullah
05:01 are considering instituting third-party proceedings in 1MDB's 6.59 billion US dollar
05:08 or 30.91 billion ringgit lawsuit against them.
05:12 Such proceedings may see former or possibly current 1MDB officers brought in by the duo
05:18 to be parties and defendants in the action.
05:20 This was relayed following case management this morning to Judicial Commissioner Datuk Raja Ahmad
05:26 Mohsanuddin Shah Raja Mohsan.
05:28 Solicitors for Arukanda also informed the court that the client is considering filing a counterclaim
05:34 after Muhammad Irwan filed a similar application citing abuse of court process in naming him.
05:41 Muhammad Irwan's lawyers are also said to be considering filing a discovery application to the suit.
05:47 Muhammad Irwan was one of the members of 1MDB's Board of Advisors.
05:51 The court fixed November 20 as the date for the next case management.
05:55 [Music]