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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

1MDB says most of its funds invested overseas already back home

Posted on 30 April 2014

1Malaysia Development Bhd (1MDB) says substantial portions of its overseas funds have gradually made their way back to Malaysia to be reinvested in energy projects and real estate, and meet financial obligations.
The funds had been earmarked for the development and acquisition of specific assets, 1MDB said yesterday in response to allegations it had been involved in questionable deals, and amid calls that it should bring home RM18.1 billion parked overseas, as claimed by certain news reports. The sovereign wealth fund said the monies invested abroad is an interim measure, such as the funds in Cayman Islands that is regulated by the Cayman Monetary Authority………………………………………..Full Article: Source


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