Tuesday, July 27, 2021

1MDB

1MDB withdraws $1 billion lawsuit against legal firm, partner

KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) has withdrawn its $1 billion lawsuit filed against legal firm Wong & Partners and its partner Brian Chia Hock Gee. Based on copies of court documents obtained by the media today, 1MBD as the...

1MDB, M’sian govt sue KPMG for $5.6 billion

KUALA LUMPUR: The government of Malaysia, Minister of Finance Inc (MOF Inc), 1Malaysia Development Berhad (1MDB) and four of its subsidiaries have filed a suit against 44 partners of accounting firm KPMG, seeking $5.6 billion for alleged breach of...

Shafee’s money-laundering trial begins tomorrow

KUALA LUMPUR: After almost three years, the trial of prominent lawyer Tan Sri Muhammad Shafee Abdullah, who is facing two counts of money laundering charges involving RM9.5 million he allegedly received from former prime minister Datuk Seri Najib Tun Razak, and...

Government fails to forfeit RM114 mln

KUALA LUMPUR: The government failed in its application to forfeit RM114 million, allegedly belonging to Umno and former prime minister Datuk Seri Najib Tun Razak that was seized from a premises belonging to Obyu Holdings Sdn Bhd. This followed a decision by...

US Department of Justice remits RM1.9 bln of seized 1MDB funds to Malaysian government

KUALA LUMPUR: The United States (US) Department of Justice (DOJ) has remitted about RM1.9 billion ($452.36 million) seized in matters related to the 1Malaysia Development Bhd (1MDB) into Malaysia’s Assets Recovery Trust Account, the Ministry of Finance (MOF) said. To...

Year of high-profile verdicts, two get jail & fine, others freed

KUALA LUMPUR: 2020 has indeed been an eventful year for the country’s judiciary with verdicts made over several high-profile cases, with the most prominent, involving former Prime Minister Datuk Seri Najib Tun Razak. Other court cases that took centre stage...

Govt to receive $2.5 bln from Goldman Sachs in 2 months

SHAH ALAM: Goldman Sachs Group Inc will hand over a cash payment of $2.5 billion to the Malaysian government to resolve outstanding claims related to 1Malaysia Development Bhd (1MDB) in the next two months. Finance Minister Tengku Datuk Seri Zafrul...

Goldman Sachs to pay $3.9 bln to Malaysia to settle 1MDB dispute

BY ROZANNA LATIFF AND JOSEPH SIPALAN KUALA LUMPUR: U.S. investment bank Goldman Sachs has reached a $3.9 billion settlement with the Malaysian government over the multibillion-dollar 1MDB scandal, the two sides said on Friday. The deal includes a $2.5 billion cash...

Government wants to prohibit PetroSaudi from using US$340 mln linked to 1MDB

KUALA LUMPUR: The government is seeking a court order to block PetroSaudi International Ltd (PSI) and its director Tarek Obaid from using over US$340 million linked to 1Malaysia Development Berhad (1MDB) kept in a client’s account at a United...

Petronas chief quits

BY A. ANANTHALAKSHMI, JOSEPH SIPALAN &  KRISHNA N. DAS KUALA LUMPUR: The chief of Petronas quit this month after disagreement with the prime minister over giving more oil money to one of the country’s states, sources close to the government...
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Lacking in form but Malaysia’s Green hopeful in winning Olympic men’s golf

TOKYO: A lack of form has not deterred Malaysian golfer Gavin Green from dreaming of winning an Olympic medal...
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