Malaysia on Friday said it will challenge a move by the heirs of a former Southeast Asian sultan to seize its Dutch assets as part of the descendents' efforts to enforce a $15 billion arbitration award against the Malaysian state.
The heirs of the former Sulu sultan on Thursday asked a Dutch court for permission to seize Malaysian assets in the Netherlands, where some of Malaysia's biggest companies have operations - including state oil firm Petronas.
The heirs are targeting Malaysian assets overseas following the government's refusal to recognise the $15 billion arbitration award by a French court in February, which found it had reneged on a 1878 land leasing agreement between a British company and the last sultan of Sulu.
