KUALA LUMPUR, March 1 (Bernama) — This media statement is with reference to AMMB Holdings Berhad’s (AMMB) Bursa announcement dated 26 February 2021 on the Global Settlement that was reached with the Ministry of Finance Malaysia (MOF). This is in relation to the review by the relevant authorities of historical transactions by 1Malaysia Development Berhad (1MDB) and its related entities.
The Group has since strengthened and enhanced its processes to meet the current stringent regulatory standards. To this end, the AMMB Group has decided to resolve these historical matters to allow the Group to focus fully on its business. In this respect, the AMMB Group has to-date reached an agreement with MOF for a sum of RM2.83 billion to be paid towards the full and final settlement in relation to all these historical matters.
