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Yayasan Akalbudi board did not know about RM17.9m withdrawn by Ahmad Zahid, court told


KUALA LUMPUR (March 8): A total of RM17.9 million from the coffers of Yayasan Akalbudi was taken out by Datuk Seri Dr Ahmad Zahid Hamidi without the approval of the charity s board of trustees, a Malaysian Anti-Corruption Commission investigating officer told the High Court today.
The officer, Muhammad Fazli Zulkifli, 36, who was in charge of investigating the criminal breach of trust (CBT) charges against Ahmad Zahid, said the former deputy prime minister had used part of the funds to purchase a stake in hotel management firm Ri-Yaz Asset Sdn Bhd.
Fazli, who was on the witness stand last week, testified under oath that out of the RM17.9 million, Ahmad Zahid used RM8.6 million to pay the hotel management firm as a deposit for a share purchase, while the other RM9.3 million was put into fixed deposit accounts. ....

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PPB-owned Golden Screen Cinemas to buy Navis-backed MBO Cinemas in Malaysia


PPB-owned Golden Screen Cinemas to buy Navis-backed MBO Cinemas in Malaysia
March 2, 2021
Malaysian conglomerate PPB Group’s cinema arm Golden Screen Cinemas (GSC) is acquiring the majority of the cinema assets of MBO cinemas, which is currently undergoing a voluntary winding up in the hands of creditors.
GSC said in a statement on Tuesday that it signed an agreement on Feb 23 to acquire the assets from the operators, MCAT Box Office Sdn Bhd and Reel Entertainment Holdings Sdn Bhd, which is undergoing voluntary winding-up.
The deal is expected to be completed by June but the size and value of the acquisition remain undisclosed.  ....

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