In an interview with The Associated Press on 29 June, Finance Minister Lim Guan Eng said the government has plans to "monetise" the luxury goods seized from properties linked to former Prime Minister Datuk Seri Najib Razak
"We will try to monetize whatever we can, but bear in mind it is nothing compared to the amount that has been robbed from the state," he told the news agency.
Guan Eng, however, added that the amount is a trivial sum compared to the RM50 billion allegedly misappropriated by scandal-ridden state fund 1MDB
"Imagine if that amount was discovered or revealed in the United States, it would be mind boggling even for a country as wealthy as rich as the United States.
"For a small country such as Malaysia, it is completely out of this world," he said.
Najib has reaffirmed that the seized items were "gifts accumulated over decades" and the RM1.1 billion valuation was "subjective and unrealistic".
"... over the years as head of the government, we have been gifted with a lot of items by foreign leaders as well as personal friends, and I do know that under the law it is not illegal to receive gifts," he told Malaysiakini.