KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) and one of its subsidiaries obtained ad interim injunction from the High Court here to prevent wanted businessman Low Taek Jho or "Jho Low" from transferring or dissipating any of his assets in Malaysia amounting to US$1.03 billion.
Jho Low's father, Tan Sri Larry Low Hock Peng was also served with a similar injunction from the same companies involving US$401.5 million.
1MDB counsel Siva Kumar Kanagasabai said Judge Hayatul Akmal Abdul Aziz allowed the injunction to be enforced until the inter-partes application was disposed of.
"Ad interim injunction granted on same terms as ex-parte ordered. The court set May 25 for hearing of (the) inter-partes application," the lawyer told the media after the proceedings were held virtually today.
1MDB and the subsidiary, Global Diversified Investment Company Limited (formerly known as 1MDB Global Investments Limited) were represented by counsels Wong Chee Lin, Dhanyaa Shreeya, Kong Xin Qing and Tommy Lim while M. Puravalen, Chong Mun Fong and Wong Hong Yi acted for Jho Low and his father.
On March 15, Judge Hayatul allowed a Mareva injunction by 1MDB and Global Diversified, which were the first and fifth plaintiffs in 1MDB's suit against Jho Low, his father as well as several other individuals.
A Mareva injunction is a temporary order which restrains the defendant from disposing of assets until the determination of the case between the plaintiff and the defendant.
The injunction also limits Jho Low and his father from spending no more than RM20,000 a month each for living and legal expenses and if they need more than the amount, they need to get prior written permission from 1MDB and Global Diversified's lawyers.
On May 7, 2021, 1MDB and its four subsidiaries, namely Global Diversified, 1MDB Energy Holdings Limited, 1MDB Energy Limited and 1MDB Energy (Langat) Limited filed a US$3.7837 billion suit against Jho Low; his father; his mother Puan Sri Goh Gaik Ewe; sister May Lin; younger brother Taek Szen and associate Eric Tan Kim Loong.
-- BERNAMA
Bernama
Tue Mar 29 2022
1MDB and one of its subsidiaries obtained ad interim injunction from the High Court here to prevent Low Taek Jho from transferring or dissipating any of his assets in Malaysia amounting to US$1.03 billion. - SINAR/TWITTER/@GeorgeGerald
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.