News about MD

  KUALA LUMPUR (Oct 21): The 1Malaysia Development Bhd (1MDB)-Tanore trial former of prime minister Datuk Seri Najib Razak continues today, as the defence inches towards the end of the first phase of the 1MDB fiasco with its first joint venture partner PetroSaudi International Ltd (PSI).

KUALA LUMPUR (Oct 18): The Liberal Democratic Party (LDP) of Sabah today managed to get RM500,000 that was frozen in its account following forfeiture proceedings today, after the prosecution from the Attorney General’s Chambers accepted its representation.

PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) said only 10% of 80 individuals and entities who were served compounds to return money from 1Malaysia Development Berhad (1MDB) have agreed to comply, theSun and the Star reported today.

KUALA LUMPUR (Oct 18): The High Court will hear an application by Datin Seri Rosmah Mansor and her two children to physically inspect assets seized by the government in its RM680 million 1MDB forfeiture suit against OBYU Holdings Sdn Bhd.

KUALA LUMPUR (Oct 18): The lead defence counsel in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) had yesterday accused a witness of lying to Datuk Seri Najib Abdul Razak about a US$1 billion investment into a joint venture with PetroSaudi International Ltd (PSI).

KUALA LUMPUR (Oct 17): 1Malaysia Development Bhd's (1MDB) Article 117 in its memorandum and articles of association (M&A), which requires written approval from the prime minister before the fund can decide on a wide range of matters, was not the first provision in a government-linked company to be structured that way, according to lead defence counsel Tan Sri Muhammad Shafee Abdullah.

KUALA LUMPUR (Oct 17): Malaysia's Attorney General Tan Sri Tommy Thomas said there are no plans to drop charges against Goldman Sachs and its directors as part of a settlement with the US investment bank over the 1MDB scandal.

KUALA LUMPUR (Oct 17): The High Court today ruled that the Malaysia Institute of Accountants’ (MIA) Disciplinary Committee cannot make public the findings of its investigations on Deloitte PLT partner Ng Yee Hong in relation to his audit of 1Malaysia Development Bhd’s (1MDB) accounts for 2013 and 2014.

KUALA LUMPUR (Oct 17): The government and Goldman Sachs has been in talks for Malaysian authorities to drop criminal charges against three of the bank's subsidiaries connected to the 1MDB scandal, Attorney General Tommy Thomas told the Nikkei Asian Review.

KUALA LUMPUR (Oct 17): The transfer of decision-making power from the federal government to the prime minister in 1Malaysia Development Bhd (1MDB) was made by the board at the advise of Low Taek Jho, said 1MDB’s former chief executive officer Datuk Shahrol Azral Ibrahim Halmi.