Court to hear forfeiture notice on over 10,000 jewellery items on Oct 31

The Kuala Lumpur High Court will hear a forfeiture notice against Obyu Holdings Sdn Bhd over a 1MDB-related matter on October 31.

Obyu Holdings is owned by Bustari Yusof, a close associate of former premier Najib Abdul Razak.

The government filed the forfeiture suit against Obyu Holdings over the 11,991 items of jewellery police had seized from properties occupied by Najib's family at the Pavilion Residences in Kuala Lumpur last year.

High Court judge Collin Lawrence Sequerah also set September 3 to gazette the forfeiture notice for all interested parties to come forward to stake a claim on the items.

Apart from jewellery, the action also seeks to forfeit 401 watches, 16 watch accessories, 234 sunglasses, 306 handbags, as well as RM114,164,393.44 cash in multiple currencies.

Obyu Holdings was reportedly the owner of the condominium units which were occupied by Najib's family members.

In a statement on May 9, the company said it had no interest in the assets that the government are looking to seize.

Bustari is the brother of former works minister Fadilah Yusof.

The prosecution was represented by Harris Ong Jeffrey Ong, while the respondent was represented by Mohd Yusof Zainal Abiden.