1MDB relied solely on internet search to verify PetroSaudi assets, court told | The Malaysian Insight

Former 1MDB CEO Shahrol Azral Ibrahim Halmi says the state investment fund did nothing more than perform an internet search to check up on the US$2.2 billion asset claims of its joint venture partner, PetroSaudi International. – The Malaysian Insight pic by Seth Akmal, October 24, 2019.

THE management of 1Malaysia Development Bhd performed due diligence only as far as doing an internet search in 2009 to verify the assets of its joint venture partner PetroSaudi International, the court heard today. Former 1MDB CEO Shahrol Azral Ibrahim Halmi told the Kuala Lumpur High Court that then 1MDB executive director Casey Tang’s team handled the verification of PetroSaudi’s alleged US$2.2 billion oil and gas properties in Argentina and Turkmenistan.

Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Day 25: 1MDB was Najib, Najib was 1MDB: ex-1MDB CEOLIVE | Malaysiakini brings you live reports from ex-premier Najib Abdul Razak's 1MDB trial.
Source: malaysiakini - 🏆 20. / 51 Read more »

Najib pushed to close 1MDB-PetroSaudi deal, court told | The Malaysian InsightShahrol Azral Ibrahim Halmi testifies he was pressured to sign off on joint venture despite clause that would result in RM2.9 billion debt for entity.
Source: msianinsight - 🏆 8. / 63 Read more »

1MDB was Najib, Najib was 1MDB, says witnessEx-1MDB CEO Shahrol told court there was no difference in his mind between the entity and the former PM.
Source: malaysiakini - 🏆 20. / 51 Read more »