04 February 2016
Swiss bank BSI has attracted media attention in recent months, after becoming caught up in the controversy surrounding Malaysian state investor 1Malaysia Development Berhad (1MDB).
The latest development came when one of BSI’s senior private bankers here – Mr Yak Yew Chee – filed a request with Singapore’s High Court for some of his money to be released.
It has been reported that several of his bank accounts, containing about $10 million, were frozen as part of investigations surrounding 1MDB Global last September.
BSI is a relative latecomer in Singapore’s private banking scene, having started business here only in 2010.
… Dr Alan Chong, a political scientist at the S. Rajaratnam School of International Studies, agreed, adding it is also in Malaysia’s best interest not to criticise Singapore’s investigation and politicise the matter.
CMS / GPO / Online / Print
Last updated on 04/02/2016