News about Saudi

Eversendai executive chairman and group managing director Tan Sri AK Nathan: Despite going through a very challenging period in the last few years, exasperated by Covid-19 and its related impacts, Eversendai is optimistic that the group will be able to strongly rebound as a result of the record high order book, which will translate in optimum utilisation of all the group's fabrication facilities.

PUTRAJAYA (April 21): Datuk Seri Najib Razak’s (pictured) continuous failure to verify the source of the billions of ringgit transferred into his personal accounts reflected how the former prime minister never truly believed that the source of the funds was actually an Arab donation, the prosecution argued today.

KUALA LUMPUR (March 17): The High Court here today has fixed Sept 6-7, 2021 to hear the prohibition order application by the Malaysian government against PetroSaudi International Ltd (PSI) and Saudi businessman Tarek Obaid from using over US$340 million (RM1.

KUALA LUMPUR (Feb 4): The forfeiture action by the prosecution against Saudi national Tarek Obaid, PetroSaudi International Ltd (PSI), PetroSaudi Oil Services (Venezuela) Ltd (PSOSL), and two others over US$340 million in 1Malaysia Development Bhd (1MDB) funds is not settled yet, as parties will go for further case management.

PUTRAJAYA (Dec 2): Former premier Datuk Seri Najib Razak (pictured) has stated 307 reasons in his petition of appeal to set aside his conviction and sentence in the SRC International Sdn Bhd case Among others, he claimed that the trial judge, Justice Mohd Nazlan Mohd Ghazali, was wrong in finding that his action of not returning the RM42 million SRC money was detrimental to his defence.

KUALA LUMPUR (Nov 10): The scheduled High Court hearing here today of the Malaysian government's planned forfeiture of US$340.

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 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 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 (Aug 12): The High Court has adjourned to Aug 19 the hearing of PetroSaudi Oil Services (Venezuela) Ltd (Incorporated in Barbados) (PSOSL)’s application to vary an interim order granted last month that blocked the movement of US4340.