Image: Reuters Berita 24 English -According to local media, Malaysia's Prime Minister Ismail Sabri Yaakob announced legal measures on T...
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| Image: Reuters |
Following the government's reluctance to recognise an arbitration ruling by a French court in February that determined it had violated a land lease agreement between a British business and the last sultan of Sulu in 1878, the heirs are pursuing Malaysian property abroad.
An appeal has been filed, thus the matter has been put on hold while Malaysia, which accepted the settlement after gaining independence from Britain and paid modest annual payments to the claimants until 2013, does so.
According to a U.N. arbitration convention, the award is still enforceable outside of France, according to the claimants' attorneys.
According to Ismail Sabri, the government would defend its international assets, including those of state-affiliated businesses, through legal avenues.
Ismail Sabri was cited by the state news agency Bernama as saying, "I provide my assurance that we will not compromise or budge even an inch in preserving the country's rights and sovereignty.
In an effort to enforce the decision, two Petronas subsidiaries from Malaysia were seized in Luxembourg last week.
The seizure was called "baseless" by Petronas, which also said that it was taking precautions to safeguard its assets worldwide.
