Malaysia remains firm in its efforts to recover assets linked to 1Malaysia Development Berhad (1MDB), including a S$1.298 billion (RM4.2 billion) claim against DBS Bank Ltd in the Singapore High Court.
Prime Minister Datuk Seri Anwar Ibrahim said the recovery efforts were not merely about reclaiming lost funds, but also about restoring trust in institutions and protecting Malaysia’s standing among its international partners.
“The recovery effort is not merely about reclaiming money that was lost. Trust, confidence in institutions and Malaysia’s standing among international partners were also compromised during this dark chapter in the country’s history,” he said in a statement issued by the Finance Ministry on Sunday.
Anwar, who is also Finance Minister, said the Madani Government was committed to strengthening governance and institutional accountability to ensure such a betrayal would not happen again.
The latest claim was filed by four companies undergoing liquidation, together with court-appointed liquidators, seeking damages over funds allegedly misappropriated from 1MDB and SRC International Sdn Bhd.
According to the 1MDB Asset Recovery Task Force, the claim involves five DBS accounts opened in 2013 by the four companies.
The account-opening documents identified Tan Kim Loong, also known as Eric Tan, as the sole beneficial owner of the companies and the authorised signatory for all five accounts.
The accounts were allegedly used to channel more than US$1 billion in misappropriated 1MDB and SRC funds between 2013 and 2014.
Based on the latest figures, the government’s total obligations related to 1MDB stand at RM51.4 billion, comprising RM42.5 billion already paid by the government and a remaining debt of RM8.9 billion.
The government has so far received RM31.3 billion through asset recovery efforts, leaving an estimated RM20 billion in losses from the 1MDB scandal that will ultimately have to be borne by the government.
The recovery process has involved cooperation and legal proceedings across several countries, including the United States, Switzerland, the United Kingdom and Singapore.
Among the latest recoveries was a settlement reached between the government and JPMorganChase in August 2025, involving a RM1.4 billion contribution to the Malaysia Asset Recovery Trust Account.
Funds recovered through the account are being used to repay existing debts and meet financial obligations linked to 1MDB and SRC, helping to reduce the burden on public finances.
