Hearing to fix auction date for ex-1MDB counsel Jasmine Loo's Mont' Kiara home postponed due to MCO 3.0

Hearing to fix auction date for ex-1MDB counsel Jasmine Loo's Mont' Kiara home postponed due to MCO 3.0
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KUALA LUMPUR (June 14): The hearing for the fixing of a date for the auction of an apartment in Mont' Kiara that previously belonged to 1Malaysia Development Bhd's (1MDB) former general counsel Jasmine Loo Ai Swan has been postponed to July 29, 2021.

The matter was to be heard today before High Court senior assistant registrar Syeela Marlina Uttaman but was deferred to next month due to the implementation of the recently extended full movement control order, also known as MCO 3.0.

A source familiar with the case told theedgemarkets.com that the adjournment was apparently decided last week, and that today's date was vacated. 

In September last year, OCBC Bank (M) Bhd filed a suit against Loo over her alleged failure to settle an outstanding loan sum of RM308,375, and sought to auction off the Apollo Tower, Mont' Kiara property that she bought in 2010, within three months of obtaining the auction order.

Then on March 16, the bank managed to obtain the court order for the sale of the property from High Court judge Mohd Nazlan Mohd Ghazali. However, the court has yet to determine the current valuation of the said property.

Loo is one of the key players in the 1MDB financial scandal, where she is said to be a close associate of purported master conspirator Low Taek Jho, popularly known as Jho Low.

Besides the auctioning off of her property, the government through the Inland Revenue Board has also filed two legal suits back in February to recover RM2.4 million in tax arrears from Loo and RM6.7 million from another Jho Low associate, Casey Tang Keng Chee.

All three of them are now still at large and were believed to have left the country before the 14th general election in May 2018.

Other 1MDB personnel who are still on the run include former managing director and chief executive officer of SRC International Sdn Bhd Nik Faisal Ariff Kamil, Jho Low's right-hand man Eric Tan Kim Loong, and former 1MDB director of finance Terence Geh Choh Heng. 

Lam Jian Wyn