1MDB: S'pore Monetary Authority offers to assist M'sia again

  • May 16, 2018
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The Monetary Authority of Singapore (MAS) has offered "further assistance" to Malaysia regarding 1MDB-related transactions.

In a statement today, MAS Commercial Affairs Department said Singapore had "cooperated extensively" with its Malaysian counterparts on such matters in the past.

"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.

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

Singapore has taken punitive action against several bankers, most notably disgraced Goldman Sachs banker Tim Leissner (photo, far left) and BSI Singapore banker Yeo Jiawei.

Singaporean courts heard that Yeo enjoyed close ties with Jho Low, a Malaysian businessperson said to be the key figure behind the 1MDB affair.

Reports said the island republic has imposed a total of US$29.1 million (RM90.5 million) in penalties on eight banks as part of its 1MDB investigations.