RM925mil of 1MDB funds recovered, says Lim

  • Nation
  • Saturday, 13 Jul 2019

Finance Minister Lim Guan Eng says the government's fiscal consolidation is on track as it targets to reduce the deficit from 3.7% of GDP in 2018 to below 3% by 2021.

KUALA LUMPUR: A total of RM925.1mil of money related to 1Malaysia Development Bhd (1MDB) has been returned to the government to-date, says Finance Minister Lim Guan Eng.

“A total of RM805.8mil was returned from the United States, of which RM567.8mil was from the sale of Park Lane Hotel in Man­hattan, New York, and RM238mil from Red Granite Pictures,” he said in a statement.

Lim said RM92.3mil was reco­vered from Singapore and RM27mil was recovered locally, of which RM6.1mil was from the 1MDB Foundation and RM20.9mil from the company itself.

“This is the result of the efforts by the authorities, including the Malaysian Anti-Corruption Commi­ssion, police, the Attorney General’s Chambers and the cooperation of foreign authorities.

“Efforts to recover the funds will continue to repay 1MDB’s debts amounting to RM51bil,” he said, adding that the amount included future interest payments guaranteed by the Federal Government. — Bernama


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