Singapore’s DBS sued for US$1 billion in alleged 1MDB-linked claim

Singapore’s DBS Bank is being sued for an estimated S$1.298 billion (US$1.03 billion) in damages linked to the multibillion-dollar 1MDB scandal, Southeast Asia’s largest lender DBS Group has said. The claimants include the liquidators of four companies: BlackRock Commodities (Global), Platinum Global ‌Luxury Services, Affinity Equity International Partners and TKIL Global Investments. The liquidators confirmed in an emailed statement that they ‌had filed and served a damages claim of more than...