Malaysia Expects to Recover Up to $3.5 Billion of 1MDB Funds
- Finance Minister Lim expects to recover 10%-30% of lost monies
- Mahathir is seeking to recover $4.5 billion of 1MDB funds
This article is for subscribers only.
Malaysia expects to recover as much as $3.5 billion of funds potentially lost through 1MDB, said Finance Minister Lim Guan Eng.
The government may be able to regain at least 10 percent of the 50 billion ringgit ($12.3 billion) of funds that Lim estimated were siphoned from the troubled state fund, and up to 30 percent of the amount, “if we are lucky,” he said in an interview. Prime Minister Mahathir Mohamad previously said he’s seeking to recoup $4.5 billion.