It said Goldman Sachs reached a settlement worth US$3.9 billion (RM16.6 billion in 2020), consisting of US$2.5 billion in cash and an asset recovery guarantee valued at US$1.4 billion.

AmBank Group paid RM2.83 billion, while JP Morgan (Switzerland) handed over RM1.4 billion, it added in its response to Yeo Bee Yin (PH-Puchong).

“All settlement proceeds from the three institutions have been fully received and deposited into the Asset Recovery Trust Account, which is managed by the finance ministry,” it said.

Yeo had asked for a status update on 1MDB’s asset recovery, including which banks had been sued or settled with, and the latest status of the dispute with Goldman Sachs.

The ministry clarified that the government had not filed lawsuits against any bank, though 1MDB had initiated legal action against eight institutions, comprising Goldman Sachs, AmBank, JP Morgan (Switzerland), Deutsche Bank (Malaysia), BSI Bank Singapore, Amicorp Group, Standard Chartered Bank Singapore and RBS Coutts.

On the ongoing dispute with Goldman Sachs, the finance ministry said the case is being handled by a legal team from the Attorney-General’s Chambers and the King’s Counsel from the UK.

“As the parties involved in the arbitration are bound by strict confidentiality obligations, no detailed information regarding the proceedings can be disclosed at this time,” it said.

Goldman Sachs filed the arbitration claim on Oct 11, 2023, at the London Court of International Arbitration following a disagreement over obligations under the Aug 18, 2020, settlement agreement signed with the Malaysian government and 1MDB.