PETALING JAYA: Efforts to recover assets linked to the 1Malaysia Development Bhd (1MDB) scandal were not merely about getting back money that had been lost, says Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim.
“Trust, confidence in institutions and Malaysia’s standing among international partners were also at stake in this dark chapter of the country’s history,” he said.
Anwar said the Madani Government was committed to strengthening governance and institutional accountability to prevent such a betrayal from happening again.
In a statement on Sunday (Sept 13), the Finance Ministry said Malaysia remained committed to recovering funds linked to the 1MDB scandal.
The ministry said it took note of a claim filed at the Singapore High Court against DBS Bank Ltd by four companies undergoing liquidation, seeking about S$1.298bil (RM4.2bil) in damages over funds allegedly misappropriated from 1MDB and SRC International Sdn Bhd.
According to the 1MDB Asset Recovery Task Force, the claim involves five DBS accounts opened in 2013 by the four companies.
The account-opening documents named Tan Kim Loong, also known as Eric Tan, as the sole beneficial owner of the companies and signatory to all five accounts.
The accounts were allegedly used to channel more than US$1bil in misappropriated funds from 1MDB and SRC between 2013 and 2014.
The ministry said the government’s total 1MDB obligations stood at RM51.4bil, comprising RM42.5bil already paid and RM8.9bil in outstanding debt.
It said RM31.3bil had been recovered through asset recovery efforts, leaving the government facing potential losses of about RM20bil from the scandal.
The recovery efforts involve legal proceedings and cooperation with several countries, including the United States, Switzerland, Britain and Singapore.
Among the latest recoveries was a settlement reached between the government and JPMorganChase in August 2025, which involved a RM1.4bil contribution to the Malaysia Asset Recovery Trust Account.
"Recovered funds were used to repay existing debts and meet financial obligations linked to 1MDB and SRC, reducing the burden on public finances," it said.
