KUALA LUMPUR, March 17 — The Malaysian Anti-Corruption Commission (MACC) has recovered RM14,670,676.61 in assets linked to the 1Malaysia Development Berhad (1MDB) scandal and returned them to the Malaysian government.

The recovered amount includes foreign currencies: S$1,388,122.52 (RM4,817,429.55), US$85,868.53 (RM400,000), NZ$344,163.76 (RM973,000) and A$3,181,097.67 (RM9,480,247.06).

“These recovered funds have been deposited into the Asset Recovery Trust Fund under the Ministry of Finance,” MACC said in a statement today.

Of the total, RM12,974,730.41 came from the sale of properties and fund transfers from the accounts of Tan Kim Loong, a Malaysian linked to Low Taek Jho. The funds were transferred to the Asset Recovery Trust Fund on February 18, March 7 and March 10 this year.

Another RM1,695,946.20 was recovered from Yak Yew Chee, a Singaporean and former banker convicted in Singapore for his involvement in the 1MDB case. This amount was credited to the Asset Recovery Trust Fund on January 21, 2024.

With the latest recovery, MACC said the total amount of 1MDB-related assets recovered now stands at RM29,752,034,475.13, approximately 70 per cent of the RM42 billion believed to have been misappropriated.

“This recovery rate is significantly higher compared to global asset recovery standards and reflects the success of collaborative efforts between enforcement agencies and international partners,” MACC said.

The commission said the recovery highlights its ongoing commitment to reclaiming illegally obtained assets and underscores the effectiveness of cooperation with Singapore’s Commercial Affairs Department (CAD) in combating corruption and money laundering.

“MACC will remain committed to recovering misappropriated national assets and working with international authorities to address corruption and financial crimes,” the statement added.