The government is expecting the recovery of 1MDB assets to take a lengthy period, as most of them are abroad in countries including Singapore, Switzerland and the United States. — Reuters pic
Of this figure, RM30.30 million is within the 1MDB Recovery Account, whereas RM888.62 million is within the MOF Recovery Account, under the Finance Ministry. Among the main 1MDB assets which have been successfully retrieved from US authorities include the Park Lane Hotel in New York City, and money from Red Granite Pictures, worth US$137 million and US$57 million respectively.
Once these costs have been deducted, the remaining sale proceeds will be deposited into either the 1MDB Recovery Account or the MOF Recovery Account, sometime in the third quarter of the year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Guan Eng: PAC report confirms unlawful treatment of GST funds | Malay MailKUALA LUMPUR, July 16 — Finance Minister Lim Guan Eng insisted today that the Public Accounts Committee investigation triggered by his claim that Barisan Nasional (BN) “robbed” the country of RM19.4 billion confirmed the illegal use of tax revenue. Lim said the now-repealed Goods and Services...
Source: malaymail - 🏆 1. / 86 Read more »
Najib: PAC report on missing GST funds clears BN of ‘robbery’ claim | Malay MailKUALA LUMPUR, July 16 — Former prime minister Datuk Seri Najib Razak said the Public Accounts Committee (PAC) investigation report on missing Goods and Services Tax (GST) refunds vindicated his Barisan Nasional administration of claim it “robbed” the country. He said the PAC report included...
Source: malaymail - 🏆 1. / 86 Read more »
Three-quarters of Tabung Harapan funds used for 1MDB debt - PSC reportThe Finance Ministry used RM143.75 million out of RM203.29 million to pay a 1MDB sukuk coupon in May.
Source: malaysiakini - 🏆 20. / 51 Read more »
Guan Eng says PAC report on GST refunds proves wrongdoingThe finance minister says his ministry will not repeat the non-compliance pointed out by PAC. FMTNews LimGuanEng GSTRefunds
Source: fmtoday - 🏆 5. / 72 Read more »
Rayer lapor polis isu duit GST berdasarkan laporan Tommy ThomasAhli Parlimen Jelutong membuat laporan polis tidak lama selepas PAC mengumumkan tiada kutipan GST hilang. FMTNews rayer GST
Source: fmtoday - 🏆 5. / 72 Read more »
Guan Eng sees call to refer him to parliamentary panel as a diversion | The Malaysian InsightFinance minister says he would rather focus on PAC report on GST refunds.
Source: msianinsight - 🏆 8. / 63 Read more »