Goldman Sachs Reps in Malaysia for 1MDB Asset Recovery Talks

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A six-member team of executives and legal counsel from US banking giant Goldman Sachs arrived in Malaysia on Saturday to meet Malaysian authorities on the recovery of 1Malaysia Development Bhd assets.

“This week, senior representatives from Goldman Sachs Group Inc (are in) Malaysia to continue discussions and negotiations with the government,” said Finance Minister Tengku Zafrul Tengku Abdul Aziz in a statement today.

Bernama

“The government is fully committed to ensuring the recovery of 1MDB assets. We are taking every action and step to ensure a recovery value that is fair and just to the Malaysian people.”

He expressed hope for fruitful talks.

It was reported that the top American executives obtained special travel passes and visas to enter Malaysia for these negotiations and will meet Attorney-General Tan Sri Idrus Harun, who heads the recovery team for Malaysia.

Idrus will reportedly be assisted by Solicitor General II Datuk Siti Zainab Omar.

The asset recovery is a key priority for Putrajaya, which has taken action against various institutions and in multiple countries, he added.

Towards this end, Putrajaya has also been conducting negotiations with other international organisations.

The US investment bank’s team has enlisted Kumar Partnership as its Malaysian legal representative.