1MDB

AcronymDefinition
1MDB1Malaysia Development Berhad
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References in periodicals archive ?
Datuk Amhari Efendi Nazaruddin, who formerly worked as special officer to Datuk Seri Najib Razak, testified in the latter's 1MDB trial that the ex-prime minister had made offers to the China-owned companies while clearly aware of the Malaysian sovereign investment firm's financial woes.
After losing power last year, the former prime minister was arrested and hit with dozens of charges related to 1MDB. He is expected to face several trials.
Malaysia turned up the heat on Goldman Sachs, filing the first criminal charges against the US bank in relation to the 1MDB scandal.
investigators as a central figure in the alleged theft of about $4.5 billion from 1Malaysia Development Berhad (1MDB).
Tan Rajah and Cheah, a Singapore-based law firm acting for 1MDB and the Malaysian government, said Monday the Singapore State Courts 'have granted disposal orders' in respect to the money totalling Sg$15.3 million ($11.1 million).
1Malaysia Development Berhad, or 1MDB as it is known, is at the centre of money laundering investigations in at least six countries, including Switzerland, Malaysia and the United States.
They said the meddling in the investigation by the Malaysian Anti-Corruption Commission (MACC) effectively shut down local inquiries into the scandal at 1Malaysia Development Berhad (1MDB) even as five other countries, including the United States, Switzerland and Singapore, carried out their own probes.
1MDB and International Petroleum Investment (IPIC), an Abu Dhabi sovereign wealth fund, are locked in a tussle over the repayment of two bonds worth USD3.5bn that were issued by the Malaysian investment company.
In a statement, 1MDB said it is confident in its legal position and has submitted a formal and robust response to the RFA through its legal counsel, Weil Gotshal & Manges (Weil Gotshal), a specialist in international litigation.
A Malaysian parliamentary committee investigating 1MDB said in a report released that the Malaysian sovereign fund sent a total of $3.5 billion to "Aabar BVI".
The oil and gas investment giant on Thursday updated the market regarding the binding term sheet signed between IPIC and Aabar Investments PJS (Aabar) and 1Malaysia Development Berhad (1MDB) and Ministry of Finance Malaysia (MOF Malaysia) on 28 May 2015, the total payment to be made by IPIC amounts to $102.7 million.