It is in Singapore 's interest to investigate, to act on 1MDB issues: Vivian Balakrishnan

Singapore

Singapore: Singapore has conducted investigations and taken action against companies and individuals related to the 1MDB scandal For political calculations, but because this is in his own "national interest", Foreign Minister Vivian Balakrishnan told Parliament on Monday July 9th.

As he gave the House details about the aid Dr. Balakrishnan emphasized the importance of reaffirming and protecting Singapore's reputation as a clean, transparent and reliable international financial center. financial system either as a refuge or channel for illicit funds, "he said.

"We will continue to assist the Malaysian government in its own investigations.We also informed the Malaysian Government that it could avail itself of the legal procedures in our courts to establish property and recover the property seized at Singapore could be reduced to 1MDB. "

Billions of dollars would have disappeared from Malaysia's public investment fund, which was launched by former Malaysian Prime Minister Najib Razak in 2009. Mr. Najib was charged in court on 4 July with an investigation into the misappropriation of funds.

While Malaysia's investigations into 1MDB intensified after Pakatan Harapan came to power, Dr. Balakrishnan pointed out that Singapore has been investigating crimes committed here since 2015.

Singapore has closed two banks and fined others for regulatory offenses, while convicted persons have also been imprisoned and fined. "Until now, we are the only jurisdiction in the world to have done so," Dr. Balakrishnan said.

He added that Singapore had "fully responded to each request for information" from the Malaysian authorities between March 2015 and August 2016. Singapore also proactively provided additional information on the 1MBD-related flow of funds to Malaysian authorities several times. 19659009] In total, Singapore provided information related to 1MDB in more than 30 exchanges during the period, he added.

"Since the change of government in Malaysia, in the past two months, Singapore and Malaysian agencies have met several times on 1MDB cases," he said. "In fact, the Malaysian authorities have expressed their gratitude to Singapore for our cooperation."

THREE BILATERAL QUESTIONS SUBMITTED BY DR BALAKRISHNAN

The 1MDB scandal was one of three bilateral issues in Parliament, in response to a question from MP Christopher de Souza on State of bilateral relations between Singapore and Malaysia.

With regard to the 1962 Water Agreement, Dr. Balakrishnan reaffirmed Singapore's "clear and consistent position". He stressed that Singapore would fully respect the terms of the agreement, including the stipulated price of water, and expect Malaysia to do so as well.

The Minister also spoke briefly about the evolution of the Kuala Lumpur-Singapore high-speed train. project, following statements made by Malaysian leaders over the past two months that suggest that Malaysia no longer intends to continue the project.

However, Dr. Balakrishnan stated that the problem was the sanctity of law and international agreements.

He was told "encouraged" to note the comments of Malaysian Finance Minister Lim Guan Eng on another project undertaken by his ministry. with a foreign commercial party. According to Dr. Balakrishnan, Mr. Lim had stated that if the foreign party did not respect the terms of the agreement within certain time limits, his department would have the right to take certain measures

"To quote Mr. Lim: "I think we should look at the agreement. We are bound by the agreement, "he said." So the point is, Mr. Lim Guan Eng himself recognizes the importance of maintaining the sacredness of the agreements. "