S'pore authorities ready to assist on 1MDB probe

May 16, 2018 1:55 PM

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S'pore authorities ready to assist on 1MDB probe

SINGAPORE: Singapore authorities are prepared to lend assistance to their Malaysian counterparts in the investigations into the scandal-plagued state fund 1Malaysia Development Bhd (1MDB), Channel NewsAsia reported today.

The portal was quoting a statement by the Monetary Authority of Singapore (MAS) and Commercial Affairs Department (CAD).

"The Singapore authorities have cooperated extensively with their Malaysian counterparts on their past requests for information in relation to 1MDB-related transactions and are fully prepared to extend further assistance," the agencies said.

Singapore has also taken "swift action" against financial institutions and individuals who have broken laws within the country's jurisdiction in connection with 1MDB-related fund flows, they said.

Meanwhile, the Malaysian government would contact several countries to recover the allegedly misappropriated funds from 1Malaysia Development Bhd (1MDB), said Prime Minister Tun Dr Mahathir Mohamad.

Source: thesundaily.my

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