KUALA LUMPUR: Putrajaya settled two 1Malaysia Development Berhad (1MDB) principal bonds via the country's Assets Recovery Trust Account fund.
In the recently published Auditor General's Report, Datuk Wan Suraya Wan Mohd Radzi said the particular recovery trust fund had deflated by 99.1 per cent to RM0.13 billion after paying for the settlement of 1MDB bonds worth RM15.04 billion.
"The Assets Recovery Trust Account fund has significantly decreased by RM15.044 billion or 99.1 per cent to RM0.136 billion compared to the total of RM15.180 billion in 2021.
"This reduction aligns with the decrease in funds within the trust account, which have been utilised for the settlement of two principal bonds of 1MDB," she said.
Wan Suraya also said total trust fund receipts amounted to RM1.47 billion. The main receipts included the global settlement signed with KPMG Audit Firm amounting to RM0.341 billion, Ambank Berhad company with RM0.515 billion, and Goldman Sachs Incorporation with RM0.264 billion.
She also said the special trust fund of RM15.535 billion was used to settle the principal and interest payment commitments for matured loans in 2022 guaranteed by the government. Interest receipts from fixed deposit investments in 2022 amounted to RM265.3 million.
The Asset Recovery Trust Account was established on December 14, 2018, under Section 9 of the Financial Procedure Act 1957 [Act 61].
This trust account was set up to account for funds received from the asset recovery activities related to 1MDB and SRC International Sdn. Bhd. both domestically and internationally. It also includes profits from currency exchange, as well as interest and dividends from fixed deposit investments.
Funds from this trust account are used for various purposes, including paying off 1MDB's debts, covering the operational costs of the company and the trust account, and making fixed deposit investments.