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.
This was decided by High Court Justice Mohd Nazlan Mohd Ghazali when the case was called before him today via an online video application between parties.
Following that, another case management date has been fixed for April 2 on the matter.
Sources familiar with the matter confirmed that no settlement has been reached yet, and also the new case management date.
KUALA LUMPUR (Dec 14): PetroSaudi International Ltd (PSI) subsidiary PetroSaudi Oil Services (Venezuela) Ltd (incorporated in Barbados) (PSOSL) said it is in what could be the final round of negotiations with the Malaysian government in relation to the latter s bid to forfeit US$340 million of 1Malaysia Development Bhd (1MDB) funds from the company.
Following this, PSOSL counsel Alex Tan told the High Court that they need some more time for discussions.
This led to Justice Mohd Nazlan Mohd Ghazali to ask whether there had been significant development to the matter, to which Tan replied that there was correspondence with the Attorney-General s Chambers last week.