Malaysian police seize US$29 mil in raids linked to 1MDB
KUALA LUMPUR (May 25): Malaysian police seized 114 million ringgit (US$29 million) in cash, as well as bags containing jewelry from an empty apartment as part of its investigation into 1MDB.
Police also raided two apartments where children of former Prime Minister Najib Razak were residing, according to commercial crime investigation department director, Amar Singh.
Amar declined to say who owned the apartments.
KUALA LUMPUR (June 21): The FBM KLCI is expected to trade range bound today, taking cue from the overnight close at most global markets.
Stocks on world markets edged higher on Wednesday, following a recent sell-off on rapidly escalating China-U.S. trade tensions, while Treasury yields rose after the Federal Reserve chairman said the U.S. central bank should continue with a gradual pace of interest rate hikes, according to Reuters.
Fed Chairman Jerome Powell cited a labor market that does not seem to be overly tight in advocating staying the course on rate hikes, it said.