PUTRAJAYA’s application to block PetroSaudi International Ltd (PSI) and its director Tarek Obaid from using US$340 million (RM1.61 billion) linked to 1Malaysia Development Bhd (1MDB) held in a client’s account at a law firm in the United Kingdom will be heard by the Kuala Lumpur High Court on February 20.

Judge Ahmad Shahrir Mohd Salleh set the date after deputy public prosecutor Ahmad Sazilee Abdul Khairi requested a resumption of the hearing, as he was still waiting for the latest developments from the Malaysian Anti-Corruption Commission (MACC) about the case.

“In this case, the applicant (prosecution) understands the court’s concern that this case has been going on for a long time, and the parties have not completed their arguments. However, the parties would agree with the court’s decision if another date for the arguments can be set,” Sazilee said.

Asked by Shahrir whether witness statements were already recorded, Sazilee said: “It is still ongoing, and our side is waiting for the latest developments from the enforcement agency (MACC) because we do not know the contents of the statement.”

Lawyer Mohd Yusof Zainal Abiden, who represented Obaid, suggested the final hearing date be set since the case has been ongoing for a while.

Lawyer Alex Tan, representing PSI, PetroSaudi Oil Services (Venezuela) Ltd (PSOS-VZ) and Temple Fiduciary Services Ltd, which are the second, third and fifth respondents, said he adopted Yusof’s argument.

Shahrir set February 20 for the final hearing and ordered any application to be filed before the date.

On July 16, 2020, the court granted the government’s application for a temporary order to prevent the parties involved from moving money linked to 1MDB and keeping it in an escrow account held by Clyde & Co.

The order was to maintain the status quo of the parties until the disposal of the government’s application to obtain an order to prevent any dealings involving money belonging to PSI and its subsidiary PSOS-VZ, which were in the account.

Putrajaya claimed the money came from 1MDB funds in a joint venture with PSI to establish 1MDB PetroSaudi Ltd in 2010.

The application, filed under section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, named Obaid, PSI, PSOS-VZ, Clyde & Co and Temple Fiduciary as the first to fifth respondents. – Bernama, October 18, 2023.