‘Assets to remain frozen’

KUALA LUMPUR: The assets of former prime minister Datuk Seri Najib Razak will continue to be frozen pending the trial of a suit filed by 1Malaysia Development Bhd (1MDB) against him, as the High Court rules that there are real risks of the assets being dissipated.

High Court judge Justice Atan Mustaffa Yussof Ahmad, in dismissing Najib’s application to set aside a Mareva injunction, which froze Najib’s assets worth US$81mil, ruled that there were real and material risks of dissipation if the injunction were removed, as a considerable portion of the assets were in the form of cash in bank accounts and unit trusts.