KUALA LUMPUR (Dec 18): PLUS Malaysia Bhd confirmed today that it has been served with an arbitration notice by CIMB Group Holdings Bhd to restraint PLUS from engaging further in the PLUS Radio Frequency Identification (PLUS RFID) business.
Highway operator PLUS said in a statement today CIMB Group and its wholly-owned subsidiary CIMB SI 1 Sdn Bhd have initiated arbitration proceeding against PLUS pursuant to the disputes under the joint venture agreement dated May 12, 1998.
Today, PLUS said it is looking forward to making its case in the arbitration proceeding.
KUALA LUMPUR (Dec 18): The World Bank has once again lowered its gross domestic product (GDP) growth expectation for Malaysia this year to 4.7% from a 4.9% prediction set in early October 2018.
This is due to two factors, namely lower government spending and a decline in private and public investment, said Shakira Teh Sharifuddin, country economist for Malaysia at the World Bank.