Govt Recovers RM27.17 Bln Linked To 1MDB As Of September 2024 - Yeoh

KUALA LUMPUR, Oct 15 (Bernama) -- The government has recovered a total of RM27.17 billion related to 1Malaysia Development Bhd (1MDB) as of Sept 30, 2024. 

 Minister of Youth and Sports Hannah Yeoh stated that the funds deposited into the Asset Recovery Trust Account (AAMKA) now amount to RM3.04 billion.

“The government will continue its efforts to recover all funds related to 1MDB that have been misappropriated, with the primary goal of maximising returns to settle 1MDB’s debts within the stipulated timeframe,” she said in the Dewan Rakyat today.

Yeoh made this statement on behalf of Deputy Finance Minister II Datuk Seri Amir Hamzah Azizan while wrapping up the debate on the Auditor General’s Report (LKAN) 3/2024 concerning the Federal Government’s Financial Statements for 2023.

Amir Hamzah was unable to conclude the discussion due to inflammation of the throat or laryngitis.

Meanwhile, Yeoh said that the financing guarantee for 1MDB of up to RM5 billion was approved by the Cabinet on April 1, 2009.

She stated that this financing was carried out through the sukuk issuance of Islamic Medium Term Notes (IMTN) on May 29, 2009, with a maturity period of 30 years at an interest rate of 5.75 per cent per annum.

“As of September 2024, the total interest or coupon paid is RM4.312 billion,” Yeoh said.

Yesterday, the Auditor General’s Report 3/2023 reported that the federal government had allocated grants amounting to RM39.74 billion to 1MDB from 2019 to 2023 for principal repayment and other expenses, including bond interest and coupon payments.

The federal government also needs to allocate RM9.46 billion, which consists of RM5.0 billion for the principal of the IMTN maturing on May 27, 2039, and RM4.46 billion for IMTN coupon payments from 2024 to 2039 (15 years and 6 months).

-- BERNAMA