KUALA LUMPUR — Malaysian state oil firm Petronas said on Saturday (Oct 1) said it would contest any claims on its assets by the heirs of a former Southeast Asian sultan, who are seeking US$15 billion (S$21.5 billion) in compensation. The heirs of the last sultan of Sulu asked a Dutch court on Thursday for permission to seize assets in...
A logo of Petronas is seen at their office in Kuala Lumpur, Malaysia, on April 27, 2022.KUALA LUMPUR — Malaysian state oil firm Petronas said on Saturday said it would contest any claims on its assets by the heirs of a former Southeast Asian sultan, who are seeking US$15 billion in compensation.
"Petronas maintains its view that any purported action targeting Petronas in relation to this case is baseless and Petronas will continue to defend its legal position," the company said in an emailed statement to Reuters. Malaysia honoured that deal until 2013, paying the monarch's descendants about $1,000 a year. But Kuala Lumpur stopped the payments after a bloody incursion by supporters of the former sultanate who wanted to reclaim land.
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Malaysia says will fight legal action by late Sultan's heirs to seize assetsKUALA LUMPUR - Malaysia on Friday said it will take legal action in the Netherlands to resist and set aside any attempt by the heirs of a former South-east Asian sultan who are looking to enforce a US$15 billion (S$21.5 billion) arbitration award against the Malaysian state. Read more at straitstimes.com.
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Malaysia says will fight legal action by late Sultan's heirs to seize assetsKUALA LUMPUR - Malaysia on Friday said it will take legal action in the Netherlands to resist and set aside any attempt by the heirs of a former South-east Asian sultan who are looking to enforce a US$15 billion (S$21.5 billion) arbitration award against the Malaysian state. Read more at straitstimes.com.
Read more »
Late Sultan's heirs press S$21.5 billion claim, target Malaysian assets in NetherlandsKUALA LUMPUR — Heirs of a late Southeast Asian sultan on Thursday (Sept 29) asked a Dutch court for permission to seize Malaysian assets in the Netherlands, their lawyer said, seeking enforcement of a US$15 billion (S$21.57 billion) arbitration award granted to them against Malaysia's government.
Read more »