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1MDB: Malaysia has received RM340.92mil settlement from KPMG, says Finance Ministry

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1MDB: Malaysia has received RM340.92mil settlement from KPMG, says Finance Ministry These funds have been and will be used to settle the outstanding debts of 1MDB, the ministry said. theSun thesundaily 1MDB KPMG financialscandal

: The government has received from KPMG the sum of RM340.92 million which was deposited into Malaysia’s Assets Recovery Trust Account, the Ministry of Finance announced today.

To date, the Trust Account - under the custody of the Accountant General’s Department of Malaysia - has received a total of RM19.138 billion in connection with the 1MDB financial scandal. These funds have been and will be used to settle the outstanding debts of 1MDB, the ministry said. “However, the current balance of the Trust Account is sufficient to pay off only the principal amount of the bonds for 2022. Once all the Trust Account funds are utilised, the government will continue to bear the obligation to pay the balance of 1MDB’s debts, whose issuance was backed by a government guarantee and letter of support,” he added.

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