PETALING JAYA: Four pieces of art worth almost RM800,000 have been returned to Malaysia following an asset recovery exercise by the Malaysian Anti-Corruption Commission (MACC).
The MACC said the artworks were successfully repatriated as part of the 1Malaysia Development Bhd (1MDB) asset recovery exercise and were being kept under strict security at its headquarters in Putrajaya.
“These artworks are part of the assets recovered in connection with the misappropriation of funds from 1MDB, achieved through the Malaysian government’s ongoing and coordinated efforts led by MACC.
“It involved close collaboration between domestic enforcement agencies and international strategic partners,” it said in a statement yesterday.
The estimated combined value of the artworks was RM786,556.25.
The four artworks repatriated were Joan Miro’s Composition (1953); Maurice Utrillo’s Maison de rendez-vous de chasse de Henri IV, Rue St Vincent, Montmartre (1934); Balthus’ Etude pour femme couchee (1948) and Pablo Picasso’s L’Ecuyere et les clowns (1961).
“The artworks have been placed in a specially designated location under strict security control and are currently undergoing an environmental stabilisation (‘acclimatisation’) process to ensure optimal preservation prior to uncrating, authentication and valuation by the National Visual Arts Development Board.
“The return of these artworks not only symbolises Malaysia’s continued success in recovering misappropriated assets, but also strengthens the country’s standing in implementing best practices in asset recovery at the international level,” the statement read.
To date, MACC said Malaysia has successfully recovered approximately RM31.2bil in assets linked with 1MDB, representing nearly 70% of the total identified assets.
The MACC added that this recovery showed that there were no safe havens for illicit proceeds.
“The MACC will continue to intensify its asset tracing and recovery efforts in an aggressive and strategic manner to ensure that all unlawfully obtained assets are returned to the nation for the benefit of Malaysians.”
