UK law firm declines to respond to affidavit in US$340m 1MDB-linked suit

KUALA LUMPUR (Oct 22): The hearing of the government’s forfeiture of US$340 million which allegedly belongs to 1Malaysia Development Bhd (1MDB) from Saudi national Tarek Obaid and others is set to continue in December after UK law firm Clyde & Co LLP, which is named in the suit, declined to respond to and file affidavits on documents it was served.

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Axteria, Far East Hospitality Management sign LOI to manage the former’s hotel, serviced suites

KUALA LUMPUR (Oct 15): Axteria Group Bhd, which was formerly known as Acoustech Bhd, announced on Friday it has signed a non-binding letter of intent with Far East Hospitality Management (S) Pte Ltd (FEH) expressing its intent in managing the hotel and serviced suites located in Kota Laksamana, Melaka which are currently being developed by its wholly-owned subsidiaries Axteria Assets Sdn Bhd and Axteria Eco Sdn Bhd.

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DONE DEAL: Condominium at Kiara East Suite DEX, Kuala Lumpur

Read also DONE DEAL: Condominium at Kiaramas Sutera Condominium, Kuala Lumpur DONE DEAL: Two adjoining ground floor shop units at Ampang Point Commercial Centre, Ampang, Kuala Lumpur Developed by Kiara East Property, Kiara East Suite DEX is a leasehold condominium located in the north-east fringe of Kuala Lumpur city bordered by Jalan Ipoh and Jalan Kuching.

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SRC suit: Najib ordered to file defence by Oct 11

KUALA LUMPUR (Sept 2): The High Court here has ordered Datuk Seri Najib Tun Razak (pictured) to respond to the suit filed by SRC International Sdn Bhd against the former prime minster relating to alleged breach of trust and breach of statutory duty involving SRC funds totalling RM42 million by Oct 11.

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