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Press Release
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 
139  570 
Amount received :
    Film Production Company, Red Granite
    Luxury Yacht, ‘Equanimity’ 
57
234 
126
517 
    Subtotal 183  751 
Total Value 322  1321 
 
Table 2: Repatriation of 1MDB Assets from Singapore
 1MDB Assets Repatriated from Singapore   Value Assets
SGD ‘Mil  RM ‘Mil @SGD1:RM3 
Amount received 15  45 
Amount to be received  35  105 
Total Amount 50  150 
 
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
Total  40,214  10,800  51,014

 

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.

Sayangi Malaysiaku!

Lim Guan Eng
Finance Minister
Ministry of Finance Malaysia
Putrajaya
8 Mei 2019