In Brief: Oil royalties upped for producing states

Oil royalties upped for producing states

KUALA LUMPUR • Malaysia will raise oil royalties for its petroleum-producing states to 20 per cent from the current 5 per cent, Prime Minister Mahathir Mohamad said yesterday.

Tun Dr Mahathir's party had promised to increase petroleum royalties for all producing states as part of a slew of economic and financial reforms in the lead-up to his surprise election win in May.


Arrest warrants out for ex-1MDB executives

KUALA LUMPUR • Malaysian investigators are said to have issued arrest warrants for two former executives of the troubled 1Malaysia Development Berhad (1MDB) state fund. The Malaysian Anti-Corruption Commission is seeking its former general counsel Jasmine Loo Ai Swan and former executive director Casey Tang Keng Chee, according to a person familiar with the matter.


Rosmah may have to pay $20m for jewellery

PETALING JAYA • A lawyer for a Lebanese jeweller has said that the wife of former Malaysian prime minister Najib Razak would have to fork out RM60 million (S$20.2 million) for a consignment of its jewellery if it is seized by Malaysia's Customs Department. Global Royalty Trading SAL had sued Madam Rosmah Mansor last month to demand that she return a consignment of 44 jewellery pieces currently being held by the police. They were seized during raids on properties linked to her husband in May.


A version of this article appeared in the print edition of The Straits Times on July 20, 2018, with the headline 'In Brief'. Print Edition | Subscribe