In a statement today, MACC said it was actively seeking to recover 1MDB assets in the country and abroad including in the US, the United Arab Emirates (UAE), Taiwan and Singapore.

On Nov 12, Singapore’s Commercial Affairs Department (CAD) returned US$864,813.27 (RM3.6 million), which belonged to former SRC International Sdn Bhd (SRC) chief executive officer Nik Faisal Ariff Kamil, to the finance ministry’s Assets Recovery Trust Account.

Previously, the MACC said the Singapore government had also assisted in the return of assets worth US$15.4 million (RM64.4 million) to Malaysia involving the accounts of Cutting Edge Industries Ltd owned by Tawfiq Ayman and Samuel Goh.

“MACC is also in the process of recovering assets from countries such as Switzerland, Kuwait, Mauritius, Cyprus and Hong Kong involving individuals connected to the 1MDB case,” MACC said.

On May 12, the finance ministry announced that the US Department of Justice (DoJ) had remitted some RM1.9 billion in funds related to 1MDB into the Asset Recovery Trust Account.

So far, the account, which is under the custody of the Accountant-General’s Department, has received RM16.05 billion of seized and repatriated 1MDB funds.

The funds in the Asset Recovery Trust Account will be used to primarily repay 1MDB and SRC’s remaining debts.

According to the finance ministry, to date, the government has repaid RM12.4 billion of 1MDB’s debt and RM3.1 billion of SRC’s debt.

The outstanding debt balance, which is composed of principal and coupons, profit and interest of bonds, sukuk and term loans stand at RM39.8 billion for 1MDB and RM2.57 billion for SRC.

The government’s current recovery efforts are focused on parties who have caused losses to 1MDB and SRC during the execution of their duties, whether through direct or indirect involvement in 1MDB and SRC’S various operations and transactions.