KUALA LUMPUR, Dec 22 (Bernama) -- Second Finance Minister Datuk Johari Abdul Ghani commended the Monetary Authority of Singapore (MAS) for its speedy action on alleged money laundering related to 1Malaysia Development Bhd (1MDB).
"Very good. They have taken action, very good," he said when asked to comment on the three individuals who thus far were convicted for funds misappropriated from 1MDB.
It was reported that former Swiss Bank BSI employee Yeo Jiawei became the third person to be convicted in Singapore's 1MDB probe. Two other former private bankers from BSI have also been jailed in Singapore for fraud in connection with the case.
Johari called on all banks to facilitate investigation related to 1MDB. "As far as Malaysia is concerned, we are going through that process (investigate)."
Johari reiterated that there would be no business activity at 1MDB.
"Run off means we are not going to do any business in 1MDB. It becomes a shelf company," he said when asked on his previous interview with a newswire in which he stated that the government was going to "run off with 1MDB."