Malaysian Prime Minister Dr Mahathir Mohamad is hopeful of reaching an out-ofcourt settlement with Goldman Sachs over the 1Malaysia Development Bhd scandal soon, but says compensation of “one point something billion” dollars offered by the bank was too small. The Southeast Asian nation has charged Goldman and 17 current and former directors of its units for allegedly misleading investors over bond sales totalling US$6.5 billion ($8.8 billion) that the US bank helped raise for the sovereign wealth fund. Mahathir says the nation has demanded US$7.5 billion from Goldman and negotiations are ongoing. “We would like to avoid having to go to the courts, but if they come up with a reasonable sum, I think we will agree,” Mahathir, 94, said in an interview with Reuters on Sept 10.
SINGAPORE (Dec 13): "Mr Bowyer is entitled to his opinion. But the government has to clarify Mr Bowyer’s false statements of fact." — Lim Zhi Jian, director at the Ministry of Finance, referring to opposition figure Brad Bowyer’s Facebook posting, which attracted the first use of the Protection from Online Falsehoods and Manipulation Act
Mahathir hopeful of 1MDB settlement with Goldman soon
