THE Malaysian government and 1Malaysia Development Bhd (1MDB) have secured a total of RM20.71 billion in settlements from three major financial institutions implicated in the 1MDB scandal, the Ministry of Finance (MoF) has confirmed.
In a written reply to Parliament, the MoF stated that Goldman Sachs contributed US$3.9 billion (RM16.48 billion), AmBank Group RM2.83 billion, and JP Morgan (Switzerland) Ltd RM1.4 billion. The ministry clarified that all proceeds were received in full and deposited into the Asset Recovery Trust Account managed by the MoF.
However, a legal dispute is ongoing between the government and Goldman Sachs concerning the terms of the 2020 settlement agreement.
“On 11 October 2023, Goldman Sachs Group Inc filed an arbitration claim at the London Court of International Arbitration (LCIA) against the Government of Malaysia, arising from a dispute regarding the obligations of the parties under the settlement agreement signed on 18 August 2020 by the Government of Malaysia, 1MDB, and Goldman Sachs Group Inc,” said the ministry.
The government’s legal team — comprising the Attorney General’s Chambers and appointed English counsel, including King’s Counsel — is currently handling the arbitration proceedings.
“As the parties involved in the arbitration are bound by strict confidentiality obligations, no detailed information regarding the arbitration can be disclosed at this time,” it added.
The MoF was responding to a question from Yeo Bee Yin (PH–Puchong) on the current status of asset recovery efforts linked to the 1MDB scandal. - October 15, 2025
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