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More 1MDB funds recovered - total now RM16 386b, debt still exceeds RM40b

Financial scandal: Malaysia gets Deloitte s R1bn settlement, still in talks with KPMG

(Photo: File, AFP) Malaysia received $80 million (about R1 billion) from Deloitte in settlement over the firm’s audit of 1MDB and its former unit SRC International between 2011-2014, and the finance ministry said it is in negotiations with KPMG, another former 1MDB auditor. The government also expects to get 2.83 billion ringgit ($699 million) from local lender AMMB Holdings Bhd. soon, the ministry said in a statement on Thursday. The settlements with Deloitte and AMMB were announced earlier this year. The money recovered from Deloitte was deposited into Malaysia’s Assets Recovery Trust Account, which has received 16.386 billion ringgit of seized and repatriated funds. The money will be used mainly to repay 1MDB’s debts, the ministry said.

Finance Ministry: Malaysia received RM336m from Deloitte for 1MDB, SRC settlement

Finance Ministry: Malaysia received RM336m from Deloitte for 1MDB, SRC settlement Kenneth Tee © Provided by Malay Mail The Finance Ministry said the current balance in the trust account was sufficient to service 1MDB’s debt obligations for 2021 and 2022 only. Reuters pic KUALA LUMPUR, June 3 The Malaysian government announced today that it has received the remittance of US$80 million (RM336 million) in from an out-of-court settlement related to 1Malaysia Development Berhad (1MDB) from international audit firm Deloitte PLT. The Finance Ministry said the monies deposited into Malaysia’s Assets Recovery Trust Account will be utilised to primarily repay and service 1MDB and SRC International Sdn Bhd’s remaining debts.

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