Malaysia’s Finance Minister Warns 1MDB Recovery is a Marathon, Not a Sprint
During this week’s CLSA Investors’ Forum in Hong Kong, Finance Minister Lim Guan Eng revealed that the hunt for stolen funds from the notorious 1Malaysia Development Berhad (1MDB) is taking a much longer drag than the public had imagined.
So, What’s the Scoop?
- Retired Banker, Now Premier: Lim, a former banker and chartered accountant, doesn’t shy away from telling the truth about the 1MDB saga.
- Reality Check: He’s realistic about what they can recover – “we’ll only get 30% back from what’s stolen,” he said.
- Goldman Sachs: “We’re eyeing Goldman Sachs to pull back some of those fees,” Lim added, indicating that the global finance giant is in the crosshairs.
Why the Slow Pace?
Recovering what’s been siphoned off requires fishing through layers of corporate structures and worldwide legal hoops. Lim’s candid assessment reminds investors that the squeeze is hard to pull at the moment – but it’s far from a lost cause.
And What Does This Mean for Investors?
For stakeholders and public eye-balls, the take-home message is that the road to justice may stretch out, but it still carries the promise of a financial redress at least a fraction of the original sum.
