Govt has recovered around RM15.4bil in cash, physical assets linked to 1MDB, says Tengku Zafrul

 

KUALA LUMPUR (Bernama): The government has recovered around RM15.4bil in cash and physical assets that were linked to 1Malaysia Development Bhd (1MDB), says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

The Finance Minister said the government is committed to securing the remaining assets above and beyond what it has achieved today regardless of the Covid-19 situation.

“The Malaysian government remains committed to undertaking a responsible and pragmatic approach in the repatriation process that benefits the country and the people, ” he said, citing 1MDB debt servicing is already part of the government’s projection under Budget 2021.

Commenting on Joe Biden’s presidential inauguration, Tengku Zafrul expressed hope that the trade tensions between the United States and China would be diffused under the new administration.

“We hope that global trade can function in a more orderly manner under the ambit of the World Trade Organisation, ” he said during an interview with Bloomberg on Friday (Jan 22).

The US is Malaysia’s third largest trading partner, accounting for 10% of the total trade in the first three quarters of last year. – Bernama