Malaysia Gets AMMB s First Tranche of $432 Million in 1MDB Case bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.
(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.