INVESTMENT BANKING | Staff Reporter, Malaysia

Goldman Sachs execs in Malaysia for 1MDB talks: report

Malaysia's finance minister is hopeful that it will help recover lost assets.

Goldman Sachs executives would resume negotiations with the Malaysian government this week over the recovery of assets lost in the 1MDB scandal, reports Reuters, citing the country’s finance minister.

Confirming the arrival of the negotiating team, Tengku Zafrul Abdul Aziz expressed hope that the talks would “enable us to move closer towards achieving the desired results on the recovery of 1MDB assets.”

A source close to the government said Malaysia’s attorney-general Idrus Harun will lead the Malaysian team in talks with the executives.

Last month, Tengku Zafrul said even a $3b compensation would be unacceptable, and that Malaysia would pursue its case against Goldman Sachs until an acceptable settlement was offered.

Three units of Goldman Sachs have pleaded not guilty in Malaysia to misleading investors over bond sales totalling $6.5b that the bank helped raise for 1MDB.

Here's more from Reuters.

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