This article first appeared in The Edge Financial Daily on March 18, 2020

KUALA LUMPUR: The government will continue to seek the return of funds allegedly misappropriated from its strategic investment fund 1Malaysia Development Bhd (1MDB), said the Prime Minister’s Office (PMO).

In a statement yesterday, the PMO said Prime Minister Tan Sri Muhyiddin Yassin was informed that the authorities had successfully reclaimed RM1.4 billion worth of funds that had been siphoned from 1MDB, and that RM6.9 billion more have been identified.

“This morning, the prime minister was given a special briefing by the officials responsible for tracking 1MDB funds overseas.

“The team comprises representatives from the Attorney-General’s Chambers, the National Anti-Financial Crime Centre, the Malaysian Anti-Corruption Commission, the Royal Malaysian Police, Bank Negara Malaysia and the ministry of finance.

“In the briefing, the prime minister was informed that RM1.4 billion was successfully returned [to Malaysia] as a result of the efforts of the team, while another RM6.9 billion had been identified,” the statement read.

The team also provided details on the actions taken to bring back 1MDB funds believed to have been misused in 17 countries, the statement said.

“The prime minister has instructed that efforts to track and reclaim 1MDB funds from multiple countries continue to be undertaken,” the statement added.