UK to help Malaysia recover assets, rebuild finances

UK to help Malaysia recover assets, rebuild finances

Vicki Treadell
British High Commissioner to Malaysia Vicki Treadell. (Photo: AFP/William West)

KUALA LUMPUR: The United Kingdom on Wednesday (Jun 13) expressed its willingness to help Malaysia recover illegal assets in its country.

British High Commissioner to Malaysia Vicki Treadell said this after meeting with Mr Daim Zainuddin, the chairman of the Council of Eminent Persons. She also said that the UK would support the Malaysian government in rebuilding its finances. 

“If any money is uncovered in due process and it belongs to Malaysia, the UK will support its repatriation, but there is a process and rule of law that needs to be followed," she told reporters outside Kuala Lumpur's ILHAM tower. 

She added that she had a broad discussion with Mr Daim, which included how the UK could help with the new government's reform agenda. 

On Tuesday, Minister Lim Guan Eng said the US Ambassador to Malaysia Kamala Shirin Lakhdhir reassured him that assets seized from the scandal-plagued 1Malaysia Development Berhad (1MDB) will be monetised and returned to Malaysia as soon as possible.

Malaysia reopened a probe into 1MDB following a stunning election victory last month by 92-year-old Mahathir Mohamad, who has vowed to bring back funds allegedly siphoned from 1MDB and punish those responsible.

Mahathir has said that the country is now in debt of more than a trillion ringgit. 

Separately, the Institutional Reforms Committee (IRC), led by former Court of Appeals judge KC Vohrah, said the committee was almost done engaging with all relevant groups and would write its report soon. 

Stating that there would be two more meetings after Hari Raya, he stressed that the committee was focused on cleaning up various government institutions, especially the Attorney-General’s Chambers, parliament, election commission and the Royal Malaysia Police. 

"Changes are needed. We have received a lot of input and we are looking into them, and how the feedback would fit into the reforms needed,” Vohrah said. 

Source: Bernama/CNA/na