Lim Guan Eng Says Malaysia To Recover Up To RM14.4 Billion Of 1MDB Funds "If We Are Lucky"

In an interview with Bloomberg, he said that "if we are lucky," Malaysia will be able to recover 30% of the estimated funds siphoned from 1MDB. At the very least, however, 10% of the RM50 billion (USD12.3 billion) should be regained.

This amount is less than the RM18.29 billion (USD 4.5 billion) that Prime Minister Tun Dr Mahathir Mohamad had previously estimated to be recovered, Malaysiakini reported.

"Those that we can trace, there's also the question of ownership, due process as well as different national jurisdiction," he said.

Malaysia has hired Singapore-based law firm Tan Rajah & Cheah to assist in recovering the funds, while Swiss prosecutors have pledged to return any stolen money to the country.

"We will explain and we will review and disclose everything within 100 days, so that we can move on," he said.

"We cannot be existing on one expose after another. Scandal after scandal. No. We want to move on after that," Bloomberg reported.