Government Recovers RM29.7bil Linked to 1MDB, SRC

KUALA LUMPUR: The government has recovered a total of RM29.7 billion in public funds tied to 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd, the Dewan Rakyat was told.

In a written reply to Datuk Seri Dr. Wan Azizah Wan Ismail (PH–Bandar Tun Razak), the Finance Ministry said the recovery effort remains complex and lengthy, involving international cooperation, legal proceedings, and settlement negotiations.

From 2022 to June 30 this year, RM10.9 billion was credited into the Assets Recovery Trust Account.

As of July 31, a total of RM42.17 billion has been allocated to 1MDB to cover debt repayments and company obligations. This includes RM15.44 billion from the Finance Ministry and Minister of Finance Incorporated as shareholder advances or loans and RM26.73 billion from recovered 1MDB assets.

The funds have so far been used to settle RM28.93 billion in principal debt and RM13.24 billion in interest and other commitments. The remaining 1MDB debt stands at RM9.02 billion, comprising RM5 billion in principal and RM4.02 billion in Sukuk IMTN interest payments due until 2039.

For SRC, the government has allocated RM5.35 billion to settle principal, interest, and company commitments.

The ministry stressed that the recovery process is ongoing and that the government remains committed to maximizing asset recovery to clear all 1MDB and SRC debts within the set timeframe.