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PM: Govt committed to recovering 1MDB assets

KUALA LUMPUR (July 24): The Malaysian Government is committed to continuing with efforts to recover assets related to 1Malaysia Development Bhd (1MDB) and claims against individuals and quarters involved in the 1MDB financial scandal, said Prime Minister Tan Sri Muhyiddin Yassin.

“I welcome the announcement on the settlement worth RM16.6 billion (US$3.9 billion) reached between the Malaysian Government and Goldman Sachs over the Government’s claims related to wrongdoing and misappropriation in the 1MDB case,” he said in a media statement today.

Goldman Sachs Group Inc reportedly agreed today to pay US$3.9 billion to settle outstanding claims related to three bond transactions arranged for 1MDB.

The settlement brings the 1MDB funds to be returned to Malaysia to RM19 billion (US$4.5 billion), including the funds returned earlier by the US Department of Justice.

Muhyiddin also expressed his appreciation to the Finance Ministry, the Attorney General’s Chambers, the Securities Commission Malaysia, the Malaysian Anti-Corruption Commission, the National Anti-Financial Crime Centre and the negotiating team for their efforts to obtain the settlement.

“This is a success in the efforts to restore the rights and assets of the people of Malaysia,” he added.

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