Mara closely monitoring foreign assets to avoid being target of Sultan Sulu's heirs

PENAMPANG - Majlis Amanah Rakyat (Mara) will ensure that its officers or lawyers take precautionary measures against the possibility on its foreign assets becoming the target of the heirs of the late Sultan of Sulu.

Its chairman Datuk Seri Azizah Mohd Dun said the agency has assets overseas besides the assets under Mara Incorporated Sdn Bhd (Mara Inc) and its officers were constantly monitoring the situation.

"We just found out about this (seizure of Petronas assets by the heirs of the late Sultan of Sulu) but we will ensure our officers or representatives overseas are protecting the assets.

"We will refer to our lawyers on this matter," she told reporters after officiating the Canggih Go Outlet in Kapayan, here, on Wednesday.

She said this when asked to comment on the possibility of Mara's foreign assets becoming the target of the heirs of the late Sultan of Sulu after they seized the assets owned by two subsidiaries of Petronas valued at RM8.87 billion in Azerbaijan.

The seizure was done through the lawyers representing the Sultan of Sulu's heirs on Monday following a March ruling by a French arbitration court that Malaysia has to pay the descendants at least RM62.59 billion.

Petronas in a statement today confirmed that its two subsidiaries Petronas Azerbaijan (Shah Deniz) S.à r.l. and Petronas South Caucasus S.à r.l. have been seized by the heirs of the late Sultan of Sulu and was served with a 'Saisie-arret' notice on Monday.