KUALA LUMPUR, March 12 — The High Court here today allowed the government’s application for a restraining order against PetroSaudi International Ltd (PSI) director Tarek Obaid and two companies from accessing 41 pieces of jewellery worth £9 million allegedly linked to 1Malaysia Development Berhad (1MDB) funds.

Judge K. Muniandy issued the restraining order following an application by Deputy Public Prosecutor Mahadi Abdul Jumaat under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

The application was to stop Obaid, jewellery company SJ Philips Limited and valuables logistics services company Malca-Amit Far East Limited Hong Kong from carrying out any business including transferring, selling or disposing of the properties involved.

The properties are 41 pieces of jewellery worth £9 million allegedly derived from 1MDB funds.

Earlier, Mahadi informed the court that the application was the third made against Malca-Amit Far East Limited Hong Kong.

He explained that the Attorney General’s Chambers (AGC) had previously served the orders to the relevant Hong Kong authorities but had yet to receive any updates.

In the ex-parte (involving only one side) application, the Malaysian Government claimed that the 41 pieces of jewellery were subject to investigation under Section 28 of the Malaysian Anti-Corruption Commission Act 2009 (Act 694) and Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613) linked to 1MDB. — Bernama