“This latest settlement is beneficial for the Malaysian people. Resolving this through the court system would have cost a lot of time, money, and resources. With this settlement, the payment of the monies will be expedited, instead of being held up by lengthy court battles, and can be utilised to fulfil 1MDB’s outstanding obligations, ” said Finance Minister, Tengku Datuk Seri Zafrul Aziz.
KUALA LUMPUR: The Ministry of Finance (MoF) has announced that AMMB Holdings Bhd
(AMMB) has agreed to a RM2.83bil global settlement on all outstanding claims and actions in relation to the AmBank Group’s involvement in the 1Malaysia Development Bhd (1MDB) matter.
This latest global settlement is part of the Malaysian government’s continuing recovery efforts that it is pursuing against all parties directly or indirectly involved in 1MDB and its related entities.
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