KUALA LUMPUR (March 3): Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has confirmed that the Malaysian government has agreed to a settlement of US$80 million (RM324 million) with Deloitte PLT in relation to the 1Malaysia Development Bhd (1MDB) scandal.
He said the settlement served to resolve all claims related to their fiduciary duty on auditing the accounts of 1MDB and SRC International Sdn Bhd for the 2011-2014 period.
“This marks another success in the Malaysian government’s continuing recovery efforts against parties involved in 1MDB, SRC and its related entities. The Malaysian government is determined to ensure that appropriate actions are taken against all individuals or entities involved, directly or indirectly, in the global 1MDB scheme,” he said in a statement.
LAST Friday, the Ministry of Finance (MoF) announced that AMMB Holdings Bhd has agreed to pay RM2.83 billion to the Malaysian government as a global settlement on all outstanding claims and actions in relation to the AmBank Group’s involvement in the 1Malaysia Development Bhd (1MDB) scandal.
According to sources, the settlement is related to the banking group’s handling of the RM5.0 billion bond issue by 1MDB in May 2009.
The 30-year government-guaranteed bonds, which pay an interest rate of 5.75%, were 1MDB’s first debt and almost all were stolen by Low Taek Jho (better known as Jho Low) and collaborators, including via a purported joint venture with PetroSaudi International Ltd and a quick flip of the bonds. (See The Edge Malaysia, Issue 1271, June 17 to 23, 2019: “Two Malaysians, besides Jho Low, benefited from 1MDB bond flip”.)
Friday, 26 Feb 2021 08:04 PM MYT
BY IDA LIM
A man walks past a 1 Malaysia Development Berhad (1MDB) billboard in Kuala Lumpur, March 30, 2015. Picture by Yusof Mat Isa
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KUALA LUMPUR, Feb 26 AMMB Holdings Berhad has agreed to pay RM2.83 billion to the Malaysian government as global settlement on all outstanding claims and actions over AmBank Group’s involvement in the 1Malaysia Development Berhad (1MDB) matter, the Finance Ministry announced today.
The ministry said that this settlement is part of the Malaysian government’s continuing efforts against all parties directly or indirectly involved in 1MDB and 1MDB-linked entities to recover funds.
Different, not less: Rina (left) admiring a painting by disabled trainee Siti Hartini Darwis during a visit to Taman Sinar Harapan Ziyad Zolkefli in Cheras, Kuala Lumpur. Bernama
PETALING JAYA: The Women, Family and Community Development Minister has condemned the recent sexual harassment incidents involving women stopped by policemen at roadblocks.
Datuk Seri Rina Harun urged the police to take this matter seriously.
“Such horrendous acts will not be taken lightly, especially as they involve members of an enforcement agency.
“I urge the police to investigate so that the victims are given the appropriate defence and the perpetrators prosecuted, if found guilty.
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