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Singapore to return $15 mn in 1MDB-linked funds to Malaysia

The Singapore State Courts have granted disposal orders in respect of monies that were misappropriated from 1MDB and SRC International.


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Updated: September 10, 2018

Tan, Rajah and Cheah, the solicitors for the Malaysian government, 1Malaysia Development Bhd (1MDB) and SRC International, said the monies recovered are in various currencies with a total value of some S$15.3mil (RM45.9mil).

“These monies are being transferred to the special 1MDB recovery bank account in Kuala Lumpur.

“Efforts to recover other unlawfully misappropriated assets are ongoing,” the law firm said in a statement on Monday (Sept 10).

Among their duties will be to gather evidence, track down witnesses and establish a money trail of the stolen funds.

These matters were agreed upon after a meeting was held between the 1MDB task force and Singaporean investigators on May 31.

Held at the Malaysian Anti-Corruption Commission (MACC) headquarters in Putrajaya, members of the task force discussed various issues pertaining to the investigation.

“The task force and Singaporean investigators have agreed to cooperate in recovering funds stolen from 1MDB,” sources said.

A total of nine senior officers from various Singaporean agencies, including its Attorney General’s Chambers, Commercial Affairs Department and Singaporean Financial Authority attended the meeting with the task force members.

The 1MDB task force members are Bukit Aman Special Branch director Datuk Abdul Hamid Bador, former attorney general Tan Sri Abdul Gani Patail, MACC chief commissioner Datuk Seri Mohd Shukri Abdull, as well as his predecessor Tan Sri Abu Kassim Mohamed.



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The Star
About the Author: The Star is an English-language newspaper based in Petaling Jaya, Malaysia.

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