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KUALA LUMPUR (May 12): The US Department of Justice (DoJ) has remitted some RM1.9 billion or US$452.36 million in funds related to 1Malaysian Development Bhd (1MDB) into Malaysia’s Asset Recovery Trust Account. In a statement, the Ministry of Finance (MoF) said so far, the account had received RM16.05 billion of seized and repatriated 1MDB funds. The ministry added that any balance in the trust account, which is under the custody of the Accountant-General s Department of Malaysia, will be used to primarily repay and service 1MDB and its former subsidiary SRC International Sdn Bhd’s remaining debts. To date, the government has repaid RM12.4 billion of 1MDB’s debt and RM3.1 billion of SRC’s debt. The outstanding debt balance which is composed of principal and coupon, profit and interest of bonds, sukuk and term loans stands at RM39.8 billion for 1MDB and RM2.57 billion for SRC.

Kuala lumpurUnited statesKanda kandasamyNajib razakMohd irwan serigarZafrul tengku abdul azizInternational sdn bhdMalaysian development bhdAmbank groupDeutsche bankMinistry of finance moCoutts coJp morganUs department of justice doMalaysia assets recovery trustDepartment of malaysia