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Malaysia intends to reclaim fees, losses from Goldman over 1MDB deals

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KUALA LUMPUR — Nov. 13, 2018: Malaysia wants to reclaim from Goldman Sachs the fees the U.S. bank
received for helping state fund 1Malaysia Development Berhad (1MDB) raise money as well as consequential losses.

“The Malaysian government will want to reclaim all the fees paid, as well as all the losses including the interest rate
differential,” Finance Minister Lim Guan Eng said today.

He said the rate Malaysia received was about 100 basis points higher than the market rate.

Goldman Sachs earned about $600 million in fees for its work with 1MDB, which included three bond offerings in 2012 and 2013 that raised $6.5 billion.

1MDB is the subject of corruption and money-laundering investigations in at least six countries. — Reuters

 

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