KUALA LUMPUR: Deloitte PLT has agreed to a RM324 million (US$80 million) settlement to resolve all claims related to their fiduciary duty on auditing the accounts of 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd from 2011 to 2014.
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said this marks another success in the Malaysian government's continuing recovery efforts against parties involved in 1MDB, SRC and its related entities.
"The Malaysian government is determined to ensure that appropriate actions are taken against all individuals or entities involved, directly or indirectly, in the global 1MDB scheme," he said in a statement issued by his ministry today.
The ministry said the settlement with Deloitte represents the largest 1MDB-related settlement by an audit firm in Southeast Asia.
"The successful out-of-court settlement with Deloitte will expedite the payment of monies to fulfil 1MDB and SRC's outstanding obligations, which would otherwise be delayed by potentially protracted and costly court battles.
"In July 2020, the government successfully negotiated with Goldman Sachs to reach a settlement worth RM15.8 billion (US$3.9 billion)," it added.
On Feb 26, the government also achieved a global settlement worth RM2.83 billion related to the involvement of a banking group in the 1MDB issue.
"These settlements will neither affect nor compromise Malaysia's claims against individuals like Jho Low (fugitive businessman Low Taek Joh) and other parties related thereto, and who are still being actively pursued in relation to the 1MDB scandal."