News about MD

KUALA LUMPUR (Sept 20): Former prime minister Datuk Seri Najib Razak will be applying for a stay of proceedings in the US$8 billion civil suit filed by 1Malaysia Development Bhd (1MDB) against him and several others, pending the conclusion of his 1MDB-Tanore criminal case, according to a source close to the matter.

KUALA LUMPUR (Sept 17): KPMG PLT confirmed that a settlement has been reached in the claim filed by the Malaysian government against a number of its current and former partners in Malaysia over the statutory audits of the financial statements of 1Malaysia Development Bhd (1MDB).

KUALA LUMPUR (Sept 16): KPMG Malaysia has agreed to pay a settlement of US$80 million (valued at RM333 million) to resolve all claims related to its fiduciary duties in auditing the accounts of 1Malaysia Development Bhd (1MDB) for the period of 2010 to 2012, the Ministry of Finance (MoF) announced today.

KUALA LUMPUR (Sept 14): After failing three times to hand over legal documents to their stipulated addresses in Malaysia, lawyers for 1Malaysia Development Bhd (1MDB) will be applying to the court to utilise substituted service to serve them to Jho Low (pictured), his parents Tan Sri Larry Low Hock Peng and Puan Sri Goh Gaik Ewe, and associate Eric Tan Kim Loong.

PUTRAJAYA (Sept 14): Datuk Seri Najib Razak (pictured) is bringing his appeal to remove former senior judge Datuk Seri Gopal Sri Ram from continuing to prosecute him in the 1Malaysia Development Bhd (1MDB) audit report tampering trial to the Federal Court.

PUTRAJAYA (Sept 8): The Court of Appeal has upheld the High Court decision to dismiss Datuk Seri Najib Razak’s bid to challenge the appointment of Datuk Seri Gopal Sri Ram as the lead prosecutor in the former prime minister’s 1Malaysia Development Bhd (1MDB)-linked cases.

KUALA LUMPUR (Sept 7): A police raid and seizure of documents of 1Malaysia Development Bhd's (1MDB) premises in 2015 was the reason the now-defunct fund's former chief executive officer (CEO) Arul Kanda Kandasamy had difficulty in procuring documents which were vital for the National Audit Department's (NAD) audit of the company, suggested a defence lawyer.

KUALA LUMPUR (Sept 2): Umno, which is seeking to quash a civil suit by SRC International Sdn Bhd, claims there is no cause of reasonable action against the political party.

PUTRAJAYA (Sept 2): The Court of Appeal (COA) today dismissed the prosecution's appeal to forfeit RM192 million from central Umno, RM300,000 from Wanita MCA and RM1.

KUALA LUMPUR (Aug 19): Former 1Malaysia Development Bhd CEO Mohd Hazem Abdul Rahman (pictured) today denied that he failed to disclose to the company’s directors about a purported buyback agreement with a fake company to protect his salary and annual bonus amounting to RM2.