news

1MDB asset forfeiture: Two entities not objecting to third-party notice gazette

KUALA LUMPUR (Aug 6): Yayasan Penyelidikan Transformasi and K&Z Enterprise Sdn Bhd indicated to the High Court here today that they will not object to the gazette of third-party notice for forfeiture sought by the Malaysian Anti-Corruption Commission (MACC) over assets purportedly from 1Malaysia Development Bhd (1MDB).

Yayasan Penyelidikan Transformasi is also known as the Transformation Research Foundation while K&Z is a fabric supplier to the government. They are among the 41 entities facing the MACC's forfeiture suit for allegedly receiving 1MDB money from former prime minister Datuk Seri Najib Razak.

The MACC is seeking RM407,101.16 from Yayasan Penyelidikan Transformasi and RM138,359.60 from K&Z.

Both of them had today indicated to High Court Judge Datuk Rozana Ali Yusoff in her chambers that they will not object to the forfeiture third-party notice.

Rozana said the forfeiture third-party notice for Yayasan Penyelidikan Transformasi and K&Z will be gazetted on Oct 21 this year. She also fixed the same date for case management.

K&Z was represented by lawyer Chew Chang Min while Yayasan Penyelidikan Transformasi was not represented.

Deputy public prosecutor Nik Haslinie Hashim appeared for the prosecution.

She said Yayasan Penyelidikan Transformasi and K&Z did not object to the gazette of the notice. K&Z had, however, filed an affidavit that it will object to the forfeiture, according to her.

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. High Court rejects Najib's bid to strike out 1MDB audit tampering charge
  2. Ambrin: Instructions to amend 1MDB audit report came from Ali Hamsa
  3. Hearing of PSOSL’s bid to vary interim order blocking movement of 1MDB-linked funds adjourned to Aug 19