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1MDB-PSI JV a failure, court told
KUALA LUMPUR: The High Court was today told that the joint-venture deal between 1Malaysia Development Berhad (1MDB) and PetroSaudi International Ltd (PSI) in 2009 was a failure. Chief executive officer (CEO) of 1MDB Datuk Shahrol Azral Ibrahim Halmi, 49, agreed
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1MDB: MACC working with 5 nations to get back RM18.9 bln in assets
KUALA LUMPUR: At least five countries are currently cooperating with the Malaysian Anti-Corruption Commission (MACC) to track down unidentified assets and properties related to 1Malaysia Development Bhd (1MDB) with an estimated value of RM18.9 billion. MACC chief commissioner Latheefa Koya
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Judge issues warning on Najib for misusing medical leave
KUALA LUMPUR: The High Court in Datuk Seri Najib Tun Razak’s 1Malaysia Development Berhad (1MDB) trial today issued a stern warning against the former premier for misleading the court on his health issues. Justice Collin Lawrence Sequerah said this after
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Mahathir: No to Goldman’s 1MDB offer of under US$2b
KUALA LUMPUR: Malaysia has rejected an offer from Goldman Sachs of less than US$2 billion (RM8.33 billion) in compensation – over the 1MDB scandal, Prime Minister Tun Dr Mahathir Mohamad told the Financial Times on Friday – compared with its publicly stated demand
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MACC: Half of those served compound fine orders want extension, exemption, settlement
PUTRAJAYA: Half of the 80 individuals and entities served with compound fines for illegally receiving 1MDB funds have responded by asking for exemption or are willing to cooperate on exposing the end-users, said the Malaysian Anti-Corruption Commission (MACC). “(They) either
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Jho Low in UAE? It’s a lie, claims IGP
JERANTUT: Claims that fugitive businessman Jho Low is in the United Arab Emirates (UAE) are all lies and folk tales, said Inspector-General of Police Tan Sri Abdul Hamid Bador. He said it was illogical and impossible for a person who
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1MDB trial postponed again due to Najib’s eye problem
KUALA LUMPUR: The High Court here today adjourned Datuk Seri Najib Razak’s 1Malaysia Development Berhad (1MDB) trial after the former prime minister called in sick again due to swollen eyes. Justice Collin Lawrence Sequerah allowed Najib’s lead counsel Tan Sri
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1MDB: Jho Low agrees to return US 1bln in a deal with the US
The US Justice Department yesterday reached a settlement deal with Malaysian financier Jho Low to recover almost US$1 billion in funds the fugitive and his family had misappropriated from Malaysian investment fund, 1MDB. High-level officials of 1MDB and associates including
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1MDB board was unaware of US$1 bil JV fund split
KUALA LUMPUR: The High Court today was told that the 1Malaysia Development Berhad (1MDB) board of directors (BOD) was not informed about the decision to split the US$1 billion meant for 1MDB-PetroSaudi International Ltd (PSI) joint venture (JV) into US$300
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1MDB was Najib, Najib was 1MDB, says witness
KUALA LUMPUR: Former chief executive officer of state-owned sovereign wealth fund, 1Malaysia Development Berhad (1MDB) today described that the “1MDB was Datuk Seri Najib, Datuk Seri Najib was 1MDB”. Datuk Shahrol Azral Ibrahim Halmi, 49, who was the ninth prosecution
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