News about MD

KUALA LUMPUR (Oct 1) : A lawyer for a subsidiary of PetroSaudi International Ltd (PSI), PetroSaudi Oil Services (Venezuela) Ltd (Inc in Barbados) informed the High Court here today that there had been some recent development with regards to Malaysia's prosecution application to forfeit US$340.

KUALA LUMPUR (Sept 24): Attorney-General (A-G) Tan Sri Idrus Harun should explain the prosecution's failure in filing its petition to appeal against the court's sentence of 12 years in jail with a RM210 million fine that was handed down in Datuk Seri Najib Razak's SRC International Sdn Bhd graft trial.

KUALA LUMPUR (Sept 17): Solicitors representing the Malaysian Anti Corruption Commission (MACC) is currently looking into reports that the United States Department of Justice is seeking some US$300 million additional assets allegedly from 1Malaysia Development Bhd (1MDB), a sum that the MACC is also seeking to recover from several parties via a forfeiture application.

KUALA LUMPUR (Sept 17): The Kuala Lumpur High Court has today turned down the prosecution's application to forfeit RM700,000 worth of funds allegedly linked to 1Malaysia Development Bhd (1MDB) from Umno Pekan.

KUALA LUMPUR (Sept 17): Former 1Malaysia Development Bhd (1MDB) chief executive officer Mohd Hazem Abdul Rahman (pictured) was offered almost triple his salary in his previous company to join 1MDB, the High Court heard today.

KUALA LUMPUR (Sept 17): The US Department of Justice (DoJ) wants to recover US$300 million (RM1.

KUALA LUMPUR (Sept 17): The prosecution in ex-prime minister Datuk Seri Najib Razak's abuse of power and money laundering trial is expected to complete the examination-in-chief of former 1Malaysia Development Bhd (1MDB) chief executive officer Mohd Hazem Abdul Rahman at the High Court here today.

KUALA LUMPUR (Sept 15): Former prime minister Datuk Seri Najib Razak had pressured former 1Malaysia Development Bhd (1MDB) chief executive officer Mohd Hazem Abdul Rahman (pictured) to request audit firm KPMG to conclude the audit of the state fund’s financial statements for 2013 despite certain irregularities it found, the High Court heard today.

KUALA LUMPUR (Sept 15): PetroSaudi Oil Services (Venezuela) Ltd (PSOSL) (Incorporated in Barbados) reiterated its undertaking to the High Court today that it would not move the disputed US$340.

KUALA LUMPUR (Sept 15): Former prime minister Datuk Seri Najib Razak had used part of the US$3 billion raised by 1Malaysia Development Bhd (1MDB) — initially intended for the development of the Tun Razak Exchange (TRX) — to acquire land in Ayer Itam, Penang as part of Umno’s campaigning leading up to the 2013 General Elections (GE13), the High Court heard today.