5 days ago
RM29.7bil in 1MDB and SRC funds recovered by govt
KUALA LUMPUR: The government has recovered RM29.7bil in public funds linked to 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd, the Dewan Rakyat heard.
The Finance Ministry said the effort involves a complex and lengthy process requiring international cooperation and legal proceedings.
In a written reply to Datuk Seri Dr Wan Azizah Wan Ismail (PH-Bandar Tun Razak), the ministry said RM10.9bil has been accumulated in the Assets Recovery Trust Account from 2022 to June 30 this year.
As of July 31 this year, a net RM42.17bil has been allocated to 1MDB to finance debt repayments and company commitments.
This includes RM15.44bil from the ministry and Minister of Finance Incorporated provided as shareholder advances or loans.
It also includes RM26.73bil from recovered 1MDB assets.
The funds have been used to pay RM28.93bil in 1MDB principal debt and RM13.24bil in interest and company commitments.
The remaining 1MDB debt for principal and Sukuk IMTN interest payments until 2039 stands at RM9.02bil.
This comprises RM5bil in principal and RM4.02bil in interest.
For SRC, the government has allocated RM5.35bil to cover principal, interest and company commitments.
The ministry said the recovery process is ongoing and requires collaboration with local and international agencies.
It added that legal proceedings and settlement negotiations are part of the process.
The government remains committed to maximising recovery to settle 1MDB and SRC debts within the stipulated timeframe.
