Wednesday, March 20

Singapore Court grants disposal orders for 1MDB related funds

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SINGAPORE: The Singapore State Courts have granted disposal orders in respect of monies that had been unlawfully misappropriated from the 1MDB and/or SRC International Sdn Bhd Group of Companies.

Solicitors for the Malaysian government, Tan Rajah & Cheah, in a statement today, said the monies  are in various currencies with a total value of some S$15.3 million.

“These monies are being transferred to the special 1MDB recovery bank account in Kuala Lumpur.

“Efforts to recover other unlawfully misappropriated assets are ongoing,” it said.

Tan Rajah & Cheah is also the solicitors for 1MDB Group of Companies and SRC International Sdn Bhd Group of Companies. – Bernama