Category: General

PUTRAJAYA, The hearing of the prosecution’s appeal against the acquittal of Datuk Seri Bung Moktar Radin and his wife Datin Seri Zizie Izette Abdul Samad from three corruption charges involving RM2.8 million in investment by Felcra Bhd investment, which was scheduled today, has been postponed to Oct 9. A three-judge panel of the Court of Appeal consisting of Datuk Ahmad Zaidi Ibrahim, Datuk Hashim Hamzah and Mohamed Zaini Mazlan set the new date after lawyer Datuk Seri K. Kumaraendran informed the court that lawyer, M. Athimulan, representing Bung Moktar, could not attend today’s proceedings, as he is unwell due to

MANILA: Another foreign firm that expressed its investment commitment to President Ferdinand R. Marcos Jr. during his official trip to Japan has delivered its pledge. On Monday, Yokohama Tire Philippines, Inc. (YTPI) started the construction of its PHP3.5-billion manufacturing plant at Clark Freeport Zone in Pampanga. The expansion will increase YTPI’s production capacity by 5 percent, or an additional 500,000 tires annually. YTPI, which is the country’s lone tire manufacturer, is currently producing 10 million tires a year. Ninety-four percent of its output will be for exports and the rest for the local market. The new plant will also create

KUALA LUMPUR, U Mobile Sdn Bhd and Time dotCom Bhd have established a strategic partnership in anticipation of the accelerated deployment of its 5G network under the government’s dual network model. U Mobile said the partnership will see it tap into Time’s extensive fibre backhaul network to prepare for its second 5G network rollout. “Through this collaboration, U Mobile further strengthens its ability to ensure a superior 5G experience that is highly reliable, supports massive capacity and delivers ultra-fast speeds,” the mobile and digital services provider said in a statement today. U Mobile chief technology officer Woon Ooi Yuen said

MANILA: The confidential and intelligence funds of government agencies for the proposed 2025 budget are lower by 16 percent – from PHP12.3 billion for 2024 to just PHP10.286 billion next year, the Department of Budget and Management (DBM) said Monday. ‘We just limit it in the departments and agencies na nangangailangan talaga ng confidential at (intelligence) funds (that really needs confidential and intelligence funds),’ Budget Secretary Amenah Pangandaman told reporters in a press conference in explaining the decrease. According to a 2015 DBM-Commission on Audit (COA) Joint Circular, confidential expenses pertain to surveillance activities in civilian government agencies, while intelligence

KUALA LUMPUR, The ringgit opened almost flat against the US dollar on Monday, however, the short-term outlook for the local currency remained promising as the anticipation of a United States rate cut gained momentum, an economist said. At 8 am, the ringgit stood at 4.6550/6610 against the greenback from last Friday’s close of 4.6550/6605 . Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the anticipation of the US rate cut was fuelled by market projection ahead of the Federal Open Market Committee (FOMC) meeting on July 30-31. “We should see further support for the ringgit