RM925 million in 1MDB-related funds recovered so far

KUALA LUMPUR: The government has recovered RM925 million in 1MDB-related funds so far, Putrajaya announced today.

Of the amount, RM92.3 million was recovered from Singapore, RM567.8 million from Park Lane hotel in Manhattan, New York, and RM238 million from Red Granite.

Another RM6.1 million was recovered from Yayasan 1MDB and RM20.9 million from 1MDB.

In a statement, Finance Minister Lim Guan Eng said the recovery was made possible through the efforts of the Malaysian Anti-Corruption Commission (MACC), the police and the Attorney-General’s Chambers together with cooperation from authorities overseas.

He added that the ministry is continuing its efforts to recover any misappropriated funds and to repay 1MDB’s debts which he said amount to more than RM51 billion.

On the sale of the Equanimity to Genting Malaysia Bhd for RM527.4 million, Lim said the proceeds were fully received on April 23.

He said the money is now in the Sheriff’s Stakeholder Account (a local legal firm) for a period of three months, to allow it to be adjusted with the claim for the yacht maintenance cost to be determined by a court order.

“The proceeds from the sale after deducting the expenses incurred is expected to be deposited into 1MDB’s recovery account or that of the finance ministry, and used to settle part of the 1MDB debt,” he said.