We got better deal on Goldman Sachs settlement, says Tengku Zafrul


New York-based Goldman Sachs will pay Malaysia a minimum net sum of US$1.4 billion from an agreed list of assets over the next five years. – AFP pic, August 2, 2020.

PUTRAJAYA struck a better deal on its settlement with Goldman Sachs compared with what was offered previously, The Edge quoted Finance Minister Tengku Zafrul Tengku Abdul Aziz as saying.

Goldman Sachs will be paying US$2.5 billion (RM10.8 billion) cash with the remainder US$1.4 billion guarantee on assets that have yet to be recovered.


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Comments


  • Yes, that is a credit for you as you have confirmed how enormous the size of the theft is. Keep it up!

    Posted 1 month ago by Tanahair Ku

  • Legal costs and length of time to recover are not major considerations. The quantum of recovery is key. We should have not agreed so fast as the incremental is not substantial. Should have held out for at least 2x the amount for the loss incurred by the country was a lot more. The bank will be forced to settle at the higher amount to salvage their reputation and reverse hefty provisions from their books.

    Posted 1 month ago by Super Duper