Malaysia - Even $3 billion not enough to settle 1MDB case with Goldman | The Business Standard
Skip to main content
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Monday
June 16, 2025

Sign In
Subscribe
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
MONDAY, JUNE 16, 2025
Malaysia - Even $3 billion not enough to settle 1MDB case with Goldman

Global Economy

Reuters
06 June, 2020, 07:05 pm
Last modified: 06 June, 2020, 07:05 pm

Related News

  • Malaysia bus crash kills at least 15, mostly students
  • Malaysia backs Bangladesh's bid for ASEAN membership
  • Malaysia PM hails 'significant' engagement on Myanmar as Southeast Asian leaders meet
  • Malaysia slams 'double standards' on Gaza atrocities
  • Joint Working Group meeting: Malaysia, Bangladesh strengthen labour ties through key bilateral agreement

Malaysia - Even $3 billion not enough to settle 1MDB case with Goldman

The Southeast Asian nation has charged Goldman Sachs and 17 current and former directors of its units for allegedly misleading investors over bond sales totaling $6.5 billion that the U.S. bank helped raise for sovereign wealth fund 1MDB

Reuters
06 June, 2020, 07:05 pm
Last modified: 06 June, 2020, 07:05 pm
FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid/File Photo
FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid/File Photo

Malaysia's new government would not be willing to accept even compensation of $3 billion (2.4 billion pounds) from Goldman Sachs in a settlement over the 1MDB scandal, the finance minister told Reuters, ruling out a figure that is far higher than the bank offered last year.

The Southeast Asian nation has charged Goldman Sachs and 17 current and former directors of its units for allegedly misleading investors over bond sales totaling $6.5 billion that the U.S. bank helped raise for sovereign wealth fund 1MDB (1Malaysia Development Bhd).

Finance Minister Tengku Zafrul Aziz, who joined the three-month-old government from the corporate world, said he had held a conversation with Goldman Sachs representatives last month.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

"We are continuing our pursuit to get some money from GS. And the legal case is still ongoing, so we will have to wait for the outcome of that," the minister said in an interview in his office in Kuala Lumpur on Saturday.

"If it's $2 billion, I can say, no. $3 billion, no," he added. "As long the amount is not something we think we can accept, then we continue with the legal case."

He declined to say what an acceptable sum would be.

A Goldman Sachs spokesman did not immediately respond to an email seeking comment.

Former Prime Minister Mahathir Mohamad said in December that Goldman Sachs had offered "one point something billion" dollars for an out-of-court settlement over it role in the scandal at 1MDB.

According to the U.S. Justice Department, Goldman Sachs earned $600 million in fees for its work with 1MDB.

World+Biz

Malaysia / Goldman Sachs / 1MDB

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • BNP gears up for polls — preps ongoing from grassroots to top brass 
    BNP gears up for polls — preps ongoing from grassroots to top brass 
  • Non-performing loans surge by Tk74,570cr in Q1 as hidden rot exposed
    Non-performing loans surge by Tk74,570cr in Q1 as hidden rot exposed
  • Representational image of school children. File photo: Collected
    Govt issues urgent guidelines to educational institutes to curb Covid, dengue spread

MOST VIEWED

  • Vehicles were seen stuck on the Dhaka-Tangail-Jamuna Bridge highway due to a traffic jam stretching 15 kilometres on 14 June 2025. Photo: TBS
    15km traffic jam on Dhaka-Tangail-Jamuna Bridge highway as post-Eid rush continues
  • Tour operator Borsha Islam. Photo: Collected
    ‘Tour Expert’ admin Borsha Islam arrested over Bandarban tourist deaths
  • Infographic: TBS
    Chattogram Port proposes 70%-100% tariff hike
  • Fighter jet. Photo: AFP
    3 F-35 fighter jets downed, two Israeli pilots in custody, claims Iranian media
  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    Merger of 5 Islamic banks at final stage: BB governor
  • Infograph: TBS
    Why 10 economic zones, including BGMEA's garment park, were cancelled

Related News

  • Malaysia bus crash kills at least 15, mostly students
  • Malaysia backs Bangladesh's bid for ASEAN membership
  • Malaysia PM hails 'significant' engagement on Myanmar as Southeast Asian leaders meet
  • Malaysia slams 'double standards' on Gaza atrocities
  • Joint Working Group meeting: Malaysia, Bangladesh strengthen labour ties through key bilateral agreement

Features

Renowned authors Imdadul Haque Milon, Mohit Kamal, and poet–children’s writer Rashed Rouf seen at Current Book Centre, alongside the store's proprietor, Shahin. Photo: Collected

From ‘Screen and Culture’ to ‘Current Book House’: Chattogram’s oldest surviving bookstore

8h | Panorama
Photos: Collected

Kurtis that make a great office wear

2d | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

4d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

5d | Features

More Videos from TBS

Macron to visit Greenland after Trump's annexation threat

Macron to visit Greenland after Trump's annexation threat

4h | TBS World
Important facilities including Natanz damaged in Israeli attack

Important facilities including Natanz damaged in Israeli attack

4h | Others
Iran's gas production from South Pars halted after Israeli attack

Iran's gas production from South Pars halted after Israeli attack

5h | TBS World
Why the Strait of Hormuz is a key point of discussion in the Iran-Israel conflict

Why the Strait of Hormuz is a key point of discussion in the Iran-Israel conflict

5h | Others
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net