<figure id="attachment_3006934" aria-describedby="caption-attachment-3006934" style="width: 1600px" class="wp-caption alignnone"><img loading="lazy" class="size-full wp-image-3006934" src="https://media.freemalaysiatoday.com/wp-content/uploads/2025/03/44d4e287-tarek-obaid-afp-120325.webp" alt="tarek obaid" width="1600" height="1000" /><figcaption id="caption-attachment-3006934" class="wp-caption-text">The High Court extended the prohibition order on PetroSaudi and its director, Tarek Obaid, preventing them from using US$340 million allegedly linked to 1MDB. (AFP pic)</figcaption></figure>
KUALA LUMPUR: The High Court here has extended a prohibition order on PetroSaudi International and its director, Tarek Obaid, preventing them from using over US$340 million in alleged funds from 1MDB kept in a client’s account of a UK law firm.
Justice Noor Ruwena Md Nurdin granted the government a three-month extension from today after deputy public prosecutor Mahadi Abdul Jumaat informed the court that the order, originally issued last year, had lapsed on Dec 10.
&#8220;The extension will enable you (the government) to finalise what you want to do next,&#8221; she said.
Mahadi earlier told the court that the initial High Court order, issued last year, was valid from Dec 11, 2024 to Dec 10, 2025.
Lawyers Yusof Zainal Abiden and Alex Tan appeared for Tarek and PetroSaudi International, respectively.
In the application filed on July 10, 2020, the government contended that US$340,258,246.87 held by Clyde &amp; Co LLP on behalf of the two PetroSaudi corporations was proceeds from unlawful activities.
The application was filed under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
The provision allows the public prosecutor to apply to the High Court for an order prohibiting any person holding property which may be the proceeds of unlawful activity from dealing with it in any way.
The government is also seeking to prevent the use of funds kept in an account under Temple Fiduciary Services Limited.

MatchPoint Times

Prohibition order on PetroSaudi, director extended for 3 months

High Court says the extension will enable the government to ‘finalise what it needs to do next’.

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