Ministry Of Finance Malaysia
THE REPATRIATION OF USD322 MILLION IN 1MDB ASSETS FROM
THE UNITED STATES DEPARTMENT OF JUSTICE (DOJ) AND
SGD50 MILLION FROM SINGAPORE TO BE USED TO REPAY
1MDB DEBT OF RM51 BILLION
The Ministry of Finance (MOF) warmly welcomes the Attorney General’s Chambers’ announcement that USD322 Million (RM1.3 Billion) from 1MDB assets is to be returned to Malaysia following the United States Department of Justice’s (DOJ) Kleptocracy Asset Recovery Initiative. This amount constitutes a portion of the USD4.5 Billion that the DOJ found to have been wrongly diverted from 1MDB (see Table 1). The DOJ’s decision is the latest after a Singaporean court instructed SGD50 Million in 1MDB related funds to be returned to Malaysia (see Table 2).
Table 1: Repatriation of 1MDB Assets from America
|1MDB Assets Repatriated from the United States||Value Of Assets|
|USD ‘Mil||RM ‘Mil @USD1:RM4.10|
|Amount to be received:
Park Lane Hotel, Manhattan
|Amount received :
Film Production Company, Red Granite
Luxury Yacht, ‘Equanimity’
Table 2: Repatriation of 1MDB Assets from Singapore
|1MDB Assets Repatriated from Singapore||Value Assets|
|SGD ‘Mil||RM ‘Mil @SGD1:RM3|
|Amount to be received||35||105|
Table 3: Current 1MDB Debt
|1MDB Debt||Prinsipal RM‘Mil||Interest RM‘Mil||Total RM‘Mil|
|Bond Issuance of USD6.5 billion @ USD1:RM4.10 @ USD1:RM4.10||26,650||4,906||31,556|
|Sukuk issuance of RM5.0 billion||5,000||5,894||10,894|
|Amount paid by MOF||8,564||8,564|
The repatriation of these assets is a first step towards resolving the issues that surround 1MDB and the recovery of Malaysia’s reputation so that the country will no longer be known as a kleptocratic nation. The repatriation of these assets through legal processes also proves that 1MDB-related wrongdoings have occurred.
The government will continue in its efforts to recover other 1MDB assets, and at the same time strengthen internal controls and anti-corruption initiatives to prevent such incidents from recurring in the future.
MOF would also like to extend its appreciation over the efforts and cooperation of international authorities involved in the investigation, litigation and settlement of this case.