(Updated) RM43.9 million 1MDB, SRC monies recovered in Singapore transferred to Malaysia

Veena Babulal and Luqman Arif Abdul Karim

KUALA LUMPUR: The Singapore State Courts have granted disposal orders for the monies that have been unlawfully misappropriated from 1Malaysia Development Bhd(1MDB) and its subsidiary SRC International Sdn Bhd Group of Companies.

Tan Rajah & Cheah who are solicitors for the Malaysian government and the 1MDB group of companies said that “the monies recovered are in various currencies with a total value of some S$15.3 million (RM43.9 million).”

“These monies are being transferred to the special 1MDB recovery bank account in Kuala Lumpur. Efforts to recover other unlawfully misappropriated assets are ongoing,” said the statement issued today.More to come © New Straits Times Press (M) Bhd