KUALA LUMPUR, May 12 (NNN-Bernama) — The United States (US) Department of Justice (DOJ) has remitted about RM1.9 billion (US$452.36 million) seized in matters related to the 1Malaysia Development Bhd (1MDB) into Malaysia\u2019s Assets Recovery Trust Account, the Ministry of Finance (MoF) said.<\/p>\n\n\n\n
To date, the Trust Account \u2013 under the custody of the Accountant General\u2019s Department of Malaysia \u2013 has received RM16.05 billion of seized and repatriated 1MDB funds.<\/p>\n\n\n\n
Any balance in the Trust Account will be utilised to primarily repay and service 1MDB and SRC\u2019s remaining debts.<\/p>\n\n\n\n
The government has so far repaid RM12.4 billion of 1MDB’s debt and RM3.1 billion of SRC’s debt. The balance of debts still outstanding, comprising the principal and coupon\/ profit\/ interest of bonds, Sukuk and term loans, currently total RM39.8 billion (1MDB) and RM2.57 billion (SRC).<\/p>\n\n\n\n
\u201cThe current balance is sufficient to service 1MDB\u2019s debt obligations for 2021 and 2022 only. This balance excludes the settlement amount of RM2.83 billion that will be received from the Ambank Group and RM336 million from Deloitte PLT1.<\/p>\n\n\n\n
\u201cNegotiations are also currently ongoing with KPMG. Once all recovered funds in the Trust Account have been utilised, the government will still have to continue bearing the burden of servicing 1MDB\u2019s debt obligations, which were backed by the government\u2019s Guarantee and Letter of Support when these debts were created,\u201d Finance Minister Tengku Zafrul Tengku Abdul Aziz said in a statement Wednesday.<\/p>\n\n\n\n
\u201cThis recovery would not have been achieved without the excellent cooperation between the Government of Malaysia and the US Government, particularly with the DOJ. On behalf of the Government of Malaysia, we would like to thank the US Government and look forward to the continued cooperation between us,” Tengku Zafrul added.<\/p>\n\n\n\n
The Government\u2019s current recovery efforts are focused on parties who have caused losses to 1MDB and SRC during the execution of their duties, whether through direct or indirect involvement in 1MDB and SRC\u2019s various operations and transactions, as well as those who have wrongfully received SRC monies disguised as CSR activities.<\/p>\n\n\n\n
All those involved will be made fully accountable for the wrongdoings caused to the country through their involvement in 1MDB and\/or SRC.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, May 12 (NNN-Bernama) — The United States (US) Department of Justice (DOJ) has remitted about RM1.9 billion (US$452.36 million) seized in matters related to the 1Malaysia Development Bhd (1MDB) into Malaysia\u2019s Assets Recovery Trust Account, the Ministry of Finance (MoF) said. To date, the Trust Account \u2013 under the custody of the Accountant […]<\/p>\n","protected":false},"author":17,"featured_media":39590,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,286],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/122475"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=122475"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/122475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/39590"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=122475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=122475"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=122475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}