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MOF: Ambank to pay RM2.83b to Malaysia as 1MDB settlement, will save time instead of going to court; won't affect claims against Jho Low | Malaysia


Friday, 26 Feb 2021 08:04 PM MYT
BY IDA LIM
A man walks past a 1 Malaysia Development Berhad (1MDB) billboard in Kuala Lumpur, March 30, 2015. Picture by Yusof Mat Isa
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KUALA LUMPUR, Feb 26 AMMB Holdings Berhad has agreed to pay RM2.83 billion to the Malaysian government as global settlement on all outstanding claims and actions over AmBank Group’s involvement in the 1Malaysia Development Berhad (1MDB) matter, the Finance Ministry announced today.
The ministry said that this settlement is part of the Malaysian government’s continuing efforts against all parties directly or indirectly involved in 1MDB and 1MDB-linked entities to recover funds. ....

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