PUTRAJAYA, April 9 — The leaders of Malaysia and Singapore jointly praised today their countries’ collaboration in investigating the 1Malaysia Development Bhd (1MDB) scandal.
Following the 9th bilateral Leaders’ Retreat here, the prime ministers of both countries acknowledged the cooperation that was also extended to the United States and Switzerland.
“The leaders encouraged authorities from both countries to keep up their excellent working relationship,” said a joint statement by Prime Minister Tun Dr Mahathir Mohamad and his Singaporean opposite, Lee Hsien Loong.
Agencies from both countries are cooperating in investigating offences, sharing information on bank accounts, fund transfers, and other transactions associated with the 1MDB fund flows, and recovering assets.
“They noted that the Singapore courts had ordered the return of approximately S$15 million (RM45.3 million) of 1MDB-related funds to Malaysia, and that efforts to further recover assets were ongoing.
“Singapore authorities were also rendering mutual legal assistance in obtaining records held by financial institutions and facilitating witness interviews, in accordance with Singapore law,” the statement added.
Last month, the Monetary Authority of Singapore (MAS) confirmed ongoing investigations into other financial institutions and individuals suspected of being involved in 1MDB-related offences.
MAS was the first to act against 1MDB-related offences, with two private banks shut down in 2016, and eight banks fined nearly S$30 million (RM90 million).
