KUALA LUMPUR: The Government has back-pedalled on its earlier answer that 1Malaysia Development Berhad's (1MDB) US$1.103bil (RM3.98bil) from Cayman Islands transferred to a Singapore bank is not in a form of cash, but assets.
1MDB had explained that the balance of their investment has been redeemed in a form of assets in the currency of US Dollars in BSI Bank Limited Singapore (BSI), the Finance Ministry said in a May 19 reply to Tony Pua (pic) (DAP-Petaling Jaya Utara).
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