Malaysiakini News

Cayman Islands funds now in assets, not just cash

Kow Gah Chie  |  Published:  |  Modified:

The Finance Ministry has corrected its parliamentary written reply in March that said the US$1.1 billion (RM3.97 billion) transferred by 1Malaysia Development Bhd (1MDB) from Cayman Islands to Singapore was in cash.

According to the latest written reply to Petaling Jaya Utara MP Tony Pua, the Finance Ministry said the money that was "redeemed" was in the form of assets in US dollars.

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