07/05/2026

THURSDAY | MAY 7, 2026

3

Artworks linked to 1MDB recovered

N. Sembilan still under Unity govt

Ű BY FAIZ RUZMAN newsdesk@thesundaily.com

PUTRAJAYA: The Malaysian Anti Corruption Commission (MACC) yesterday unveiled four artworks linked to 1Malaysia Development Bhd (1MDB) worth a combined US$198,125 (RM786,556). It said seven more artworks by Henri Matisse, Alexander Calder, Pablo Picasso, William H. Bailey, Raoul Dufy, Salvador Dali and Gustave Loiseau remained under recovery, worth about US$1.7 million (RM6.9 million) in total. MACC is also pursuing proceeds from the sale of Claude Monet’s Vetheuil au Soleil in Switzerland worth about €25.2 million (RM114 million). MACC chief commissioner Tan Sri Azam Baki said the remaining recoveries were expected to be secured by the end of this year. “Rest assured, we will do our best to bring them back by the end of this year,” he said. The four works unveiled were Joan Miró’s Composition (1953), Maurice Utrillo’s Maison de rendez-vous, rue Saint-Rustique, Montmartre (1934), Balthus’ Étude pour femme couchée (1948) and Pablo Picasso’s L’Ecuyère et les clowns (1961). Azam said the paintings were brought back to Malaysia on April 14 after leaving New York on April 8 and arriving at the Kuala Lumpur International Airport on April 10. He said the artworks were not

Ű BY QIRANA NABILLA MOHD RASHIDI newsdesk@thesundaily

PETALING JAYA: The Unity government remains firmly in control of Negeri Sembilan under Menteri Besar Datuk Seri Aminuddin Harun amid recent political uncertainty in the state, said government spokesperson Datuk Fahmi Fadzil. Fahmi, who is also Communications Minister said concerns over the state administration have been resolved following a high-level meeting between senior leaders of Barisan Nasional (BN) and Pakatan Harapan (PH) on Tuesday. “Any future issues will be referred to the top leadership, in line with the agreements reached among Unity government component parties,” he told a weekly press conference yesterday. Also present were Deputy Minister Teo Nie Ching, ministry secretary-general Datuk Abdul Halim Hamzah, Bernama chief executive officer Datin Paduka Nur-ul Afida Kamaludin, Bernama deputy editor-in-chief (news service) Mohd Shukri Ishak and RTM director-general Ashwad Ismail. Earlier, the Unity Government Leadership Consultative Council agreed to continue its political cooperation in Negeri Sembilan to ensure administrative stability and safeguard public welfare. The decision was reached during a meeting co-chaired by Prime Minister Datuk Seri Anwar Ibrahim, who is also PH chairman and Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who leads BN. On April 27, 14 BN-Umno assemblymen reportedly withdrew their support and expressed a loss of confidence in Aminuddin. Meanwhile, Fahmi dismissed speculation over possible state elections in Malacca, Johor and Negeri Sembilan, saying no such discussions had taken place. His remarks come after reports that DAP had instructed its party machinery to be prepared for snap polls should state assemblies be dissolved. DAP secretary-general Anthony Loke Siew Fook said the directive was issued following the party’s central executive committee meeting, which also deliberated on political developments in Negeri Sembilan. In a separate development, Fahmi said Majlis Amanah Rakyat has agreed to reduce rental rates by 20% following the prime minister’s announcement on efforts to ease cost pressures on small traders. He said local authorities and state governments have also been instructed to lower rental rates for business premises as part of broader measures to ease the financial burden on hawkers and small businesses amid rising living costs. The reductions will be implemented nationwide and announced progressively by district.

the RM42 billion believed to have been misappropriated. He described it as among the highest asset recovery rates globally for a large-scale financial crime case. The remaining recoveries form part of the wider 1MDB-linked asset trail associated with former 1MDB general counsel Jasmine Loo. The 1MDB scandal triggered asset tracing and recovery efforts in multiple jurisdictions after billions of dollars were alleged to have been siphoned from the state fund. Azam said Malaysia’s 1MDB asset recovery had exceeded earlier expectations, with the amount recovered now surpassing the previously cited 70% benchmark. “This exceeds the earlier estimate of around 70% or RM30 billion, as stated in previous reports. “The international standard is not up to 100%. “Generally, if you can recover about 60% to 70%, that would already be considered sufficient,” he said.

o MACC reveals seized paintings worth in excess of RM780,000 and expects to retrieve more by year-end

Azam said efforts to recover the remaining assets had started about four years ago and would likely have taken much longer without international cooperation. He said the four works are being kept temporarily at MACC headquarters under controlled conditions with the cooperation of the National Art Gallery, pending authentication and preservation procedures before being handed over. On their eventual fate, Azam said the decision on whether the artworks would be kept or auctioned off again would be up to the Finance Ministry. On the broader 1MDB recovery effort, Azam said Malaysia had recovered RM31.3 billion, or 74.53%, of

physically seized, but returned through a lawful process involving a power of attorney executed by the United States Department of Justice to MACC through the Attorney-General’s Chambers. The recovery, he said, also involved mutual legal assistance and close cooperation with US authorities. “This is a breakthrough that enabled us to break through various legal issues and obstacles. This was possible because of cooperation and mutual understanding. “Of course, the law is one thing, but overcoming legal issues can be done when there is cooperation and when we look for easier and more practical ways for asset recovery.”

Rafizi arriving at the MACC headquarters yesterday to continue providing his statement for a third time over a RM1.1 billion investment case. – BERNAMAPIC Probe into semiconductor deal nears completion

PUTRAJAYA: An MACC probe into the government’s deal with Arm Holdings is nearing completion, with only two more witness statements left to be recorded, MACC chief commissioner Tan Sri Azam Baki said yesterday. He said the remaining witnesses were one individual in Taiwan and another in Malaysia and the investigation paper was expected to be submitted to the deputy public prosecutor soon after the final statements were obtained. Azam said the case was being investigated for alleged abuse of power, cheating and criminal breach of trust. “We have identified two

MACC is now probing whether there were irregularities in how the investment deal was handled and approved. Meanwhile, Bernama reported that Rafizi said investigations into him have so far centred on procedural matters rather than financial transactions in relation to the Arm Holdings deal. Speaking to reporters outside the MACC headquarters yesterday, he said no questions during his statement recording touched on money flows or payments, contrary to earlier claims. “The questions so far have been about joint venture decisions and procedures.” – By Faiz Ruzman

was rushed and skewed, potentially resulting in financial implications for the government. Former economy minister Datuk Seri Rafizi Ramli, who announced the deal on the government’s side last year, was questioned by MACC earlier this week while his former aide, James Chai, had also been called in to assist investigators. The deal was announced in March last year, when Rafizi said the government would pay Arm Holdings US$250 million (RM992 million) over 10 years for access to seven high-end chip design blueprints and training for 10,000 engineers as part of Malaysia’s push to move up the chip value chain.

individuals may recommend to be charged in court. But that is subject to the Attorney General’s Chambers to decide in due course,” he told reporters after a press conference at the MACC headquarters. However, he declined to name the individuals. The investigation is understood to involve the government’s semiconductor agreement with UK-based chip designer Arm Holdings, which has come under scrutiny over its structure, value and approval process. The investigation paper was opened on Feb 16 following complaints from several NGOs which alleged that the deal whom we