Malaysia has been rocked for more than a year by a financial scandal involving Prime Minister Najib Razak, a state investment firm, and an alleged frenzy of embezzlement stunning in its scope and complexity.
Giant video screens lining Malaysia's ruling-party headquarters flash towering, 40-storey images of a smiling Prime Minister Najib Razak across a corner of the capital, a glaring reminder of who's in charge.
Troubled Malaysian state investment vehicle 1MDB said Friday it plans a "robust response" to an Abu Dhabi sovereign wealth fund's move to seek $6.5 billion via international arbitration of a debt dispute.
The government has acted on the recommendations made by the parliamentary Public Accounts Committee (PAC) pertaining to 1Malaysia Development Berhad (1MDB), said Deputy Finance Minister Datuk Johari Abdul Ghani.
The High Court is to hear on May 11 an application by Prime Minister Datuk Seri Najib Tun Razak to dispose of his suit against Harakah and Harakahdaily over 1Malaysia Development Berhad by way of point of law without a full trial, said Najib's lawyer.
Troubled Malaysian state investment fund 1MDB said Tuesday it had defaulted on $1.75 billion in bonds it issued after missing an interest payment, raising fears of financial-market fallout from the scandal-tainted company.
Former Batu Kawan Umno division vice-chief Datuk Seri Khairuddin Abu Hassan has failed to strike out the prosecution's notice of appeal over a ruling that the charge of sabotaging banking and financial services was not a security offence.