Malaysia works with Singapore to retrieve 1MDB fund
Malaysia and Singapore agreed to work together on the investigation into a multi-billion-dollar scandal at Malaysia's State investment fund 1Malaysia Development Berhad (1MDB).
Singaporean investigators arrived in Kuala Lumpur to support the investigation as required by the Malaysian authorities (Source: https://www.channelnewsasia.com)Hanoi (VNA) - Malaysia and Singapore agreed to work together on the investigation into a multi-billion-dollar scandal at Malaysia's State investment fund 1Malaysia Development Berhad (1MDB).
In a statement on May 31, the Malaysian special force in charge of the investigation said the two countries will jointly collect evidence and investigate witnesses involved in the case.
The Singaporean side confirmed that its investigators arrived in Kuala Lumpur to support the investigation as required by the Malaysian authorities.
Singapore has taken action against several banks and bank officials for failures of money-laundering controls over transactions related to 1MDB, including the closure of units of BSI Bank and Falcon Bank.
The move comes a week after Malaysian officials met officers of the Federal Bureau of Investigation (FBI) and the US Department of Justice (DOJ) - this indicates that Malaysia will seek the US’s assistance in this investigation.
1MDB is an investment fund formed by former Malaysian PM Najib Razak in 2009 with the aim of serving the country’s socio-economic development.
Former PM Najib was accused of being related to the loss of billions of US dollars in transactions with other countries through the 1MDB. However, the fund representative and Najib for many times rejected the accusation.
Malaysia has set up a special task force to investigate the scandal surrounding the fund.
The team is responsible for carrying out probes, identifying and seizing assets acquired using funds from the state fund.
It also works to seek cooperation from enforcement agencies in the United States, Switzerland, Singapore, Canada and other countries.
The newly-elected PM Mahathir Mohamad said that he will re-investigate the case and is determined to reclaim the loss.-VNA
You should also see
Vietnamese Deputy PM, Venezuelan President hold talks
Vietnamese Deputy Prime Minister Tran Luu Quang held talks with President of Venezuela Nicolás Maduro Moros in Caracas on April 18, as part of his ongoing official visit to the Latin American country.
See more
World
ASEAN foreign ministers call for end to Myanmar violence
ASEAN foreign ministers on April 19 issued a statement calling on all parties to immediately cease violence and exercise maximum restraint in the border areas of Myanmar.
World
Indonesia’s Mount Ruang continues to emit ash
After a series of eruptions earlier this week that forced thousands to evacuate, Mount Ruang in North Sulawesi, Indonesia, continued to emit ash on April 19 afternoon.
World
Thailand gives financial support to Laos for road maintenance
The Thai cabinet has approved 1.8 billion THB (about 48.8 million USD) in financial assistance for the Lao Government to maintain and improve Highway R12, shortening the travel time from Thailand’s Nakhon Phanom province, through Laos, to the Vietnamese border in central Quang Binh province.
World
Indonesia develops sustainable tourism
Indonesia has been working to realise its goal of building a quality, sustainable and environmentally friendly tourism industry.
World
Vietnam to have many opportunities from digitalisation, green transformation: IMF
The International Monetary Fund (IMF) has forecasted that Vietnam will have many opportunities from digitalisation and green transformation, according to IMF Asia and Pacific Department Director Krishna Srinivasan.
