KUALA LUMPUR (May 12): The Ministry of Finance (MoF) said the US Department of Justice (DOJ) has remitted about US$452.36 million (about RM1.9 billion) in funds seized in matters related to 1Malaysia Development Bhd (1MDB) into Malaysia’s Asset Recovery Trust Account.
In a statement today, the ministry said the trust account had received RM16.05 billion in seized and repatriated 1MDB funds.
“Any balance in the trust account will be utilised to primarily repay and service 1MDB and SRC’s remaining debts. To date, the government has 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),” it said.
“This balance excludes the settlement amount of RM2.83 billion that will be received from AmBank Group and RM336 million from Deloitte PLT. Negotiations 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’s debt obligations, which were backed by the government’s guarantee and letter of support when these debts were created,” he added.
More to come
Subscribe to Mid-day email alert
We deliver news to your inbox daily
Featured Videos
