Malaysia recovers RM15.4 billion in cash, 1MDB assets - Tengku Zafrul

KUALA LUMPUR: Malaysia has managed to recover the return of assets associated with 1Malaysia Development Berhad (1MDB) worth RM15.4 billion (US $ 3.9 billion) so far.

According to the Minister of Finance, Tengku Datuk Seri Zafrul Tengku Abdul Aziz, it is one of the biggest returns from Goldman Sachs to Malaysia.

"Malaysia continues its efforts to recover 1MDB's assets, although since facing the COVID-19 pandemic last year, Malaysia has managed to recover RM13.4 billion in cash, 1MDB's fiscal assets.

"However, the biggest return was recorded when 1MDB returned assets from Goldman Sachs worth US$2.5 billion, excluding guarantees from Goldman Sachs worth US$ 1.4 billion," he said.

Tengku Zafrul reiterates that Malaysia remains committed to repaying 1MDB's debts as stipulated in the 2021 Budget.

"Despite the COVID-19 pandemic, the next step is for Malaysia to seek a more effective and pragmatic return of 1MDB company assets for the country and the people," he said in an online interview with Bloomberg on Friday.