Former Goldman Sachs banker Tim Leissner was sentenced to two years in prison by a judge in a New York court on Thursday after he pleaded guilty in 2018 for his involvement in a multi-billion dollar scandal involving Malaysia's sovereign fund 1MDB, Reuters reported. Leissner's conduct was "brazen and audacious," judge Margo Brodie said during sentencing. While his cooperation with the government was taken into account, it did not make up for the harm caused by the corruption at the highest levels in several countries, the judge said.

Malaysia’s central bank held its benchmark interest rate steady again in a widely expected decision that comes as tariffs threaten economic stability, the Wall Street Journal reported. Bank Negara Malaysia on Thursday maintained its overnight policy rate at 3.00%, where it has been since May 2023. “At the current OPR level, the monetary policy stance is consistent with the current assessment of inflation and growth prospects,” Bank Negara said.

Local creditors of Malaysian insolvent companies with assets within the Asean region may be able to recover their debts soon, says Datuk Seri Azalina Othman, The Star reported. The Minister in the Prime Minister's Department (Law and Institutional Reform) said that this is one of the measures proposed under the Cross-Border Insolvency Bill to be presented in Parliament this June. "With the Asean Law Forum to be held this August, I have also visited several Asean nations and met with their law and judicial ministers.

The rising trend of Malaysians declaring bankruptcy voluntarily is becoming a growing concern, signaling that many are struggling with severe financial difficulties, the New Straits Times reported. In recent years, more people have opted to declare themselves bankrupt through a Debtor's Petition, a legal process filed in court to protect themselves from excessive creditor claims. Insolvency Department director-general Datuk M Bakri Abd Majid revealed that self-declared bankruptcy cases surged by 200 per cent, with 330 cases recorded in 2024, compared to 181 in 2023 and 116 in 2022.

Malaysia’s central bank kept its benchmark interest rate unchanged as expected, citing a balanced outlook on growth and inflation, the Wall Street Journal reported. Bank Negara Malaysia on Thursday maintained its overnight policy rate at 3.00%, where it has been since May 2023. “At the current OPR level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects,” Bank Negara said.

Malaysia’s central bank kept its benchmark interest rate unchanged yet again, as solid growth and steady inflation gives it room to extend its policy hold, the Wall Street Journal reported. Bank Negara Malaysia on Wednesday maintained its overnight policy rate at 3.00%, the same level it has been at since May 2023. “At the current OPR level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects,” the central bank said.

Scandal-hit Malaysian state fund 1Malaysia Development Berhad said on Monday it has filed a legal claim of more than $1 billion against corporate services provider Amicorp Group and its CEO, alleging the firm knowingly facilitated over $7 billion in fraudulent transactions, Reuters reported.