MALAYSIA has recovered RM31.3 billion in assets linked to the 1Malaysia Development Berhad (1MDB) scandal but still faces about RM20 billion in losses, the Finance Ministry (MOF) said as efforts to reclaim more funds continue.
The ministry said it took note of a claim filed in the Singapore High Court against DBS Bank Ltd by four companies undergoing liquidation, with court-appointed liquidators seeking about S$1.298 billion (RM4.2 billion) in damages over funds allegedly misappropriated from 1MDB and SRC International Sdn Bhd.
According to the 1MDB Asset Recovery Task Force, the claim involves five DBS accounts opened in 2013 by the four companies.
The account-opening documents named Tan Kim Loong, also known as Eric Tan, as the sole beneficial owner of the companies and signatory to all five accounts. The accounts were allegedly used to channel more than US$1 billion in misappropriated 1MDB and SRC funds between 2013 and 2014.
Prime Minister Datuk Seri Anwar Ibrahim said asset recovery remained about more than simply reclaiming lost funds.
“This recovery effort is not merely about reclaiming lost money. Trust, confidence in institutions and Malaysia’s standing in the eyes of its international partners were also compromised in this dark episode in the nation’s history.
“Therefore, the MADANI Government is committed to strengthening institutional governance and accountability to ensure that such a betrayal on this scale does not happen again,” Anwar, who also holds the portfolio of Finance Minister said.
Based on the latest figures, the government’s total obligations related to 1MDB stand at RM51.4 billion, comprising RM42.5 billion already paid by the government and RM8.9 billion in outstanding debt.
After taking into account RM31.3 billion recovered through asset-recovery efforts, the remaining losses to be borne by the government stand at about RM20 billion.
The recovery effort involves legal proceedings and cooperation across several countries, including the United States, Switzerland, the United Kingdom and Singapore.
Among the latest recoveries was a settlement reached between the government and JPMorganChase in August 2025, involving a RM1.4 billion contribution to the Malaysia Asset Recovery Trust Account.
Funds recovered through the account are used to repay existing debts and meet financial obligations linked to 1MDB and SRC, thereby reducing the burden on public finances. - September 13, 2026
