This article first appeared in The Edge Financial Daily on August 7, 2019 - August 13, 2019

KUALA LUMPUR: Yayasan Penyelidikan Transformasi and K&Z Enterprise Sdn Bhd indicated to the High Court here yesterday that they would not object to the gazette of third-party notice for forfeiture sought by the Malaysian Anti-Corruption Commission (MACC) over assets purportedly from 1Malaysia Development Bhd (1MDB).

Yayasan Penyelidikan Transformasi is also known as the Transformation Research Foundation, while K&Z is a fabric supplier to the government. They are among 41 entities facing MACC's forfeiture suit for allegedly receiving 1MDB money from former prime minister Datuk Seri Najib Razak.

The MACC is seeking RM407,101.16 from Yayasan Penyelidikan Transformasi and RM138,359.60 from K&Z.

Both of them yesterday indicated to High Court Judge Datuk Rozana Ali Yusoff in her chambers that they will not object to the forfeiture third-party notice.

Rozana said the forfeiture third-party notice for Yayasan Penyelidikan Transformasi and K&Z will be gazetted on Oct 21 this year. She also fixed the same date for case management.

K&Z was represented by lawyer Chew Chang Min but Yayasan Penyelidikan Transformasi was not represented. Deputy Public Prosecutor Nik Haslinie Hashim appeared for the prosecution.

She said Yayasan Penyelidikan Transformasi and K&Z did not object to the gazette of the notice. K&Z, however, filed an affidavit that it would object to the forfeiture, according to her.