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By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Nov 20) — Here’s a roundup of local news:
*Goldman wins dismissal of lawsuit in U.S. over Malaysia ties
Goldman Sachs Group Inc has won the dismissal of a $510 million lawsuit in New York by a private equity firm that accused the Wall Street bank of shortchanging it in a merger to curry favor with Malaysia’s prime minister. In a decision made public on Friday, Justice O. Peter Sherwood of a state court in Manhattan said the lawsuit by Primus Pacific Partners LP “had no substantial nexus with New York,” and should be heard in another forum. Primus had sought damages from Goldman and former star banker Tim Leissner, accusing them of providing bad merger advice in 2010 to Goldman client EON Capital, in which Primus held a 20 percent stake. – Reuters
*Malaysian telco data breach traced to Oman
The Malaysian authorities investigating a massive online breach of data involving 46 million mobile phone users have traced the leak to an Internet Protocol address in Oman, the New Straits Times quoted the police chief as saying. Inspector-General of Police Mohamad Fuzi Harun said the team – comprising police and Internet regulator Malaysian Communications and Multimedia Commission – had some leads, and those involved had been identified. – New Straits Times
*India hikes import duty on Malaysian CPO
The Indian government has raised the import duty on Malaysian crude palm oil to 30% from 15% previously, in order to control cheaper shipments and to support its local refiners. Similarly, the import tax on soya and sunflower have been raised to 30% from 17.5% and 25% from 12.5%, respectively. – The Sun Daily
*Freeze on luxury property development from Nov 1
Following a Bank Negara Malaysia report warning that unsold residential properties are at a decade-high level, the government has frozen luxury property developments from Nov 1, NST Online reported. The news portal quoted Finance Minister II Johari Abdul Ghani as saying the cabinet decided this after scrutinising the BNM report on the real estate glut. “The Bank Negara report takes into account high-rise condominiums, shopping malls and commercial units, including those that are valued at more than RM1 million,” he said. – Free Malaysia Today
– By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
– Edited by Glen Nicol Perkinson
– Send Feedback to feedback@nikkeinewsrise.com
– Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.
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