{"id":5206,"date":"2020-07-25T14:19:53","date_gmt":"2020-07-25T06:19:53","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=5206"},"modified":"2020-07-25T14:19:56","modified_gmt":"2020-07-25T06:19:56","slug":"govt-to-receive-us2-5-billion-from-goldman-sachs-in-2-months","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=5206","title":{"rendered":"Govt to receive US$2.5 billion from Goldman Sachs in 2 months"},"content":{"rendered":"\n

SHAH ALAM, July 25 — Goldman Sachs Group Inc will hand over a cash payment of US$2.5 billion (US$1=RM4.26) to the Malaysian government to resolve outstanding claims related to 1Malaysia Development Bhd (1MDB) in the next two months.<\/p>\n\n\n\n

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the cash payment is part of a total settlement of US$3.9 billion which the group had agreed to in order to resolve outstanding charges and claims related to the three bond transactions that the Wall Street bank had structured and arranged for 1MDB.<\/p>\n\n\n\n

Meanwhile, the balance of US$1.4 billion will be paid after the\u00a0assets related to the misappropriated proceeds from the transactions have been returned to the government.<\/p>\n\n\n\n

\"billion\"<\/figure><\/div>\n\n\n\n

\u201cPreviously, we have already received US$260 million from the United States Department of Justice; the US$2.5 billion will be handed over within two months, while the balance will be paid once we have recovered several assets,\u201d he said to reporters during his visit to Yayasan Hasanah here today.<\/p>\n\n\n\n

The settlement brings the 1MDB funds to be returned to Malaysia to a total of US$4.5 billion.<\/p>\n\n\n\n

Tengku Zafrul said the monies will be channelled directly to a trust fund which had been specifically set up to settle 1MDB\u2019s debts.<\/p>\n\n\n\n

Asked on whether the funds would be sufficient to settle 1MDB\u2019s debts, the finance minister said the fund would be useful, especially in settling payments for 1MDB bonds which would mature in 2022 and 2023.<\/p>\n\n\n\n

He also said that the settlement agreement was between the Malaysian government and Goldman Sachs, and not with the Wall Street bank\u2019s two former employees, Tim Leissner and Roger Ng who had been involved in the 1MDB scandal. <\/p>\n\n\n\n

In a statement yesterday, the finance ministry said the American multinational investment bank and financial services company — at its own cost — will also assist the Malaysian government by appointing an asset recovery specialist to recover other related assets currently lying outside Malaysia.<\/p>\n\n\n\n

\u201cThe settlement will not influence the government\u2019s efforts to recover 1MDB assets and funds from other individuals or companies,\u201d added Tengku Zafrul.<\/p>\n\n\n\n

— BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SHAH ALAM, July 25 — Goldman Sachs Group Inc will hand over a cash payment of US$2.5…<\/p>\n","protected":false},"author":1,"featured_media":5207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,524],"tags":[],"class_list":["post-5206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823.jpg",1034,601,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823-150x150.jpg",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823-300x174.jpg",300,174,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823-768x446.jpg",640,372,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823-1024x595.jpg",640,372,true],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823.jpg",1034,601,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823.jpg",1034,601,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823.jpg",1034,601,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823.jpg",1024,595,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/b7ba445e50b9af4c4a2eb67bb8ba2bf65ef85bc711823.jpg",720,418,false]},"author_info":{"info":["Editor"]},"category_info":"Crime<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5206"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5206\/revisions"}],"predecessor-version":[{"id":5208,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5206\/revisions\/5208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/5207"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}