MP calls for full details of Goldman Sachs settlement

Subang MP Wong Chen says the current terms of the guarantee to recover US$1.4 billion are vague. FMTNews GoldmanSachs

The government has reached a settlement with Goldman Sachs that will see Malaysia recovering RM16.63 billion.

“Every guarantee has a time frame. These are important terms we should know. What exactly is the Goldman Sachs guarantee? What efforts is Goldman Sachs putting in to recover the said amount of US$1.4 billion?” he asked in a press conference at the Parliament lobby today. Wong said the settlement should not be a final solution since the 1MDB scandal would cost Malaysia between RM40 billion and RM50 billion in losses, depending on the amount Putrajaya could recover.

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