See More on Facebook

News

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.


Written by

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.



Enjoyed this story? Share it.


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

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

News

Climate Change: Four years is all we have

Grim reports on climate change say act now or be ready for catastrophe. Humanity has only about four years left to stabilise global temperatures and save the world from environmental catastrophe stemming from extreme climate change, scientists have warned. After negotiations at this month’s Bangkok Climate Change Conference ended in failure, the world’s leading scientific agencies, the United Nations and environmentalists are urging governments to show greater determination. They want to see more ambitious action to rapidly de-carbonise the global economy and stabilise the temperature at the safest possible level of 1.5 degrees Celsius. They also identified Southeast Asia as a strategic area in the mission to reverse climate change, calling the region not only a major front in the battle against the spreading use of fossil fuels but also one of the locales most vulnerable to the detrimental impacts.An anal


By The Nation (Thailand)
September 17, 2018

News

Trade spat perils put spotlight on need for effective strategies

Chinese experts discuss global trade tensions and policy options to ensure smooth growth of economy. Short-term challenges from the escalating trade spat with the United States have reassured Chinese officials and experts of the need to support market-oriented reform and opening-up, with a particular focus on reducing debt and limiting government intervention. That was the consensus reached by participants at a high-level forum on Sunday, during which policymakers and advisers from home and abroad gathered in Beijing. They discussed global trade tensions and policy options that would ensure smooth growth of the Chinese economy. Reforms should strengthen the market’s decisive role in resource allocation, optimize State-owned enterprises and reduce or eliminate direct subsidies for some industries, said Yang Wei­min, former deputy director of the Office of the Central Leading Group on Financ


By China Daily
September 17, 2018

News

Typhoon Mangkhut leaves behind trail of death and destruction

After killing 64 in the Philippines and pummelling Hong Kong and Macau, the mightiest storm of the year is wreaking havoc in China. Massive landslides killed 64 people while 45 others were missing in this city and in the provinces of Benguet, Mountain Province, Kalinga and Nueva Vizcaya, as Typhoon “Ompong” (international name: Mangkhut) unleashed its fury on Friday night and early Saturday, the Philippine National Police said on Sunday. The PNP said 33 people were injured in the massive storm. The hardest hit province was Benguet, where most of those who died perished in landslides, the PNP said. Power and communication lines were toppled, but some were restored late Sunday in parts of the mountain city and in provinces that were in the path of Ompong as it exited the country on Saturday night. As of 3 p.m. on Sunday, the typhoon was spotted 935 kilometers west-northwest of northern L


By Philippine Daily Inquirer
September 17, 2018

News

I am not impatient to become Prime Minister, says Anwar Ibrahim

Parti Keadilan Rakyat president says relationship with Prime Minister Dr Mahathir Mohammad amicable. Anwar Ibrahim said he has no ulterior motive nor is impatient to be Malaysia’s next Prime Minister. in contesting the Port Dickson seat, but instead wants to help reform Parliament. The Parti Keadilan Rakyat (PKR) president said: “My relationship with Prime Minister Tun Dr Mahathir Mohammad is amicable and I don’t harbour any adverse notion when I decided to contest in a by-election.” Mr Anwar said he had already expressed his intention to contest two weeks ago. “My aim is to make an inroad into Parliament and help my junior peers in drafting policies and legal frameworks for the benefit of the people,” he said when addressing his party members at the Melaka International Trade Centre at Ayer Keroh on Thursday (Sept 13) night. Mr Anwar said he does not m


By The Straits Times
September 14, 2018

News

Beijing, Moscow vow to reinforce military relations

The two nations will continue their military cooperation and explore new possible ways to boost their combat abilities. China and Russia vowed to further deepen military ties and improve their troops’ combat abilities to respond to various security threats, as they formally concluded the “Vostok-2018” strategic drills with a military parade on Thursday. Russian President Vladimir Putin and Chinese State Councilor and Minister of National Defense Wei Fenghe inspected the troops at the Tsugol training range in Russia’s Trans-Baikal region, where the exercise was held. Wei said the drills reflect China and Russia’s confidence and determination to jointly safeguard regional peace and security, and the exercise enhances the two militaries’ ability to respond to multiple security threats. The two sides should further strengthen their strategic cooperation and continu


By China Daily
September 14, 2018

News

Suu Kyi pleased with Myanmar’s progress

Myanmar State Counsellor Aung San Suu Kyi says the situation in Rakhine State could have been handled better. Myanmar State Counsellor Aung San Suu Kyi said she would describe Myanmar’s development since she won office in 2015 as “satisfactory.” Speaking at the World Economic Forum on ASEAN yesterday in Hà Nội, the Nobel laureate said she was encouraged by the country’s achievements over the last two years. “Young people have changed, and so have civil servants,” she said. “I’m not just talking about corruption; it’s also about the fact they feel more confident and they can take more initiative,” she said. “They feel they are listened to, and they have greater confidence in themselves.” Suu Kyi said despite Myanmar’s limited resources for education and research, she was impressed with the creativity and innovation of young people. “I’d like to invite


By Viet Nam News
September 14, 2018