Malaysia out to retrieve RM29bil stolen from 1MDB, says Dr M


KUALA LUMPUR: Malaysia aims to retrieve US$7bil (RM29bil) in misappropriated funds from 1Malaysia Development Berhad (1MDB) from various countries, says Prime Minister Tun Dr Mahathir Mohamad.

"I heard about this and I think they (various countries) know it is our money, so they will give it back. Singapore will also give back our money. We are hoping to get back US$7bil," he said.

He, however, did not respond on how the government will make use of the recovered funds.

He was commenting on a Bloomberg report today that he had reached out to countries from Switzerland to Singapore for help in tracking and recouping the US$4.5bil (RM18.6bil) believed to have been siphoned from 1MDB.

The report also stated that US authorities are preparing to return about US$200mil (RM828mil) in funds allegedly misappropriated from troubled state fund 1MDB to Malaysia.

Dr Mahathir was speaking to the media after chairing a Pakatan Harapan presidential council meeting, in which the Malaysian Anti-Corruption Commission (MACC) briefed the council members on Friday (May 3).

"We were exclusively briefed by the MACC with regard to political party funding.

"Parties need funding to carry out their activities but we cannot get funding or contributions from just anyone and we need a source of funds.

"We were briefed by the MACC so that we can think of ways where we can funds that are permitted. We have yet to agree to what we have been briefed about," said Dr Mahathir.

Related stories:

US authorities to return RM828mil in 1MDB funds to Malaysia

Singapore to send RM106mil of 1MDB money from ex-Goldman banker back to Malaysia

1MDB , funds , Mahathir Mohamad