DBS rejects 1.298-billion Singapore dollar claim linked to 1MDB recovery efforts

SGX Filings

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On Sep, 9 2026, DBS Bank Ltd announced that Affinity Equity International Partners Limited (in liquidation), Blackrock Commodities (Global) Limited (in liquidation), Platinum Global Luxury Services Limited (in liquidation), TKIL Global Investments Limited (in liquidation) and their liquidators have filed a lawsuit against the bank.

The claim seeks damages purportedly estimated at 1.298 billion Singapore dollars. After consulting legal advisers, DBS categorically rejected the allegations and said it will vigorously contest the claim.

DBS highlighted that global recovery efforts related to 1Malaysia Development Berhad have been ongoing since 2018 without any previous claim against the bank.

The bank stated it has assessed the situation and determined that no provisions are required at this stage.

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