The Bintulu Port Authority has cancelled a RM584.84 million contract with Muhibbah Engineering (M) Bhd to build a supply base wharf at the second harbour basin of the port in Sarawak.
In a filing with Bursa Malaysia, Muhibbah said its 51%-owned unit Muhibbah Viccana JV has received a notice from the Bintulu Port Authority to terminate the contract. It is expecting a fair compensation to the termination of the contract.
BENGALURU: Goldman Sachs Group Inc chief executive officer (CEO) David Solomon on Wednesday apologised to Malaysians for former banker Tim Leissner’s role in the sovereign wealth fund 1Malaysia Development Bhd (1MDB) scandal, but said the bank had conducted due diligence before every transaction.
Goldman is being investigated by Malaysian authorities and the US Department of Justice (DoJ) for its role as underwriter and arranger of three bond sales that raised US$6.5 billion for 1MDB.