Mahathir, Lee praise authorities over cooperation in 1MDB investigation

PUTRAJAYA: Prime Minister Tun Dr Mahathir Mohamad and his Singapore counterpart Lee Hsien Loong have encouraged authorities from Malaysia and Singapore to keep up their excellent working relationship in investigating the beleaguered 1Malaysia Development Bhd (1MDB).

In a joint statement issued in conjunction with the 9th Malaysia-Singapore Leaders’ Retreat here yesterday, both leaders acknowledged the ongoing cooperation between both countries’ agencies and institutions, bilaterally and in collaboration with the United States and Switzerland.

This included investigating offences, sharing information on bank accounts, fund transfers, and other transactions associated with 1MDB fund flows and recovering assets, the joint statement said.

The joint statement said they noted that the Singapore courts had ordered the return of approximately S$15 million (RM45 million) of 1MDB-related funds to Malaysia, and that efforts to further recover assets were ongoing.

Singapore authorities were also rendering mutual legal assistance in obtaining records held by financial institutions and facilitating witness interviews, in accordance with Singapore’s laws, the statement said.

On March 20, the Monetary Authority of Singapore (MAS) in its inaugural Enforcement Report, had confirmed that the 1MDB review was its most comprehensive on anti-money laundering and countering financing of terrorism to date.

In the report, 1MDB was one of the Featured Cases for money laundering-related control breaches by entities and individuals.

On bilateral relations, the statement said Prime Minister Lee had invited Dr Mahathir and his wife, Tun Dr Siti Hasmah Mohamad Ali to attend Singapore’s Bicentennial National Day Parade on August 9, and Dr Mahathir had accepted the invitation.

“Prime Minister Lee looks forward to hosting Prime Minister Dr Mahathir for this important milestone celebration,” the statement said.

The joint statement said Dr Mahathir and Lee also looked forward to the convening of the 8th Meeting of the MalaysiaSingapore Joint Technical Committee on the Implementation of the International Court of Justice Judgment on Pedra Branca, Middle Rocks and South Ledge to resolve outstanding bilateral maritime boundary delimitation issues in the area.

The leaders also looked forward to the determination of the actual location of the points of the international boundary pursuant to the ‘Agreement between the Government of Malaysia and the Government of the Republic of Singapore to Delimit Precisely the Territorial Waters Boundary in Accordance with the Straits Settlements and Johore Territorial Waters Agreement 1927’ signed on 7 August 1995, it said.

The joint statement said Malaysia and Singapore reiterated their commitment to enhance the existing bilateral cooperation on the environment, including issues with transboundary implications, particularly in the area of monitoring marine and air quality as well as transboundary waste movements.

Dr Mahathir and Lee also reiterated that the historical and cultural links between both countries were the foundation for stronger relations and had been further strengthened with cultural exchanges and they looked forward to the launch of the inaugural Triennial Malaysia Singapore Cultural Showcase in the second-half of 2019 in Kuala Lumpur with the theme ‘Youth’.

The leaders also noted the ongoing exchanges between Singapore’s Communications and Information Ministry and Malaysia’s Communications and Multimedia Ministry at the annual MalaysiaSingapore Joint Committee in the field of information and communications.

“The leaders also took note of the progress made towards concluding a Memorandum of Understanding to Promote Cooperation on Data, Cybersecurity and Digital Economy by October 2019,” it said.

Dr Mahathir and Lee also welcomed the good progress made by Singapore’s EZ-Link and Malaysia’s Touch n Go to launch a cross-border Combi Card that can be used by motorists who travel in both countries.

“When officially implemented, the dual-currency Combi Card would allow users to pay for road tolls and parking charges in both countries with the same card,” they said.

They also noted the partnership between NETS of Singapore and PayNet of Malaysia to accept Singapore Banks issued NETS ATM Cards in Malaysia and Malaysia Banks issued MyDebit ATM Cards in Singapore.

Currently, it said Singapore consumers are able to use their NETS ATM Cards to make payment at over 3,500 acceptance points throughout Malaysia, which marked the first time that NETS ATM Cards could be used to make payment outside Singapore. “MyDebit ATM Cards will be accepted in Singapore from the 3rd Quarter of 2019 onwards,” it said.

On regional matters, Dr Mahathir and Lee welcomed the development of the ASEAN Smart Cities Network, as a platform to pursue smart city projects to improve the lives of ASEAN citizens.

Both leaders also reaffirmed the importance of ASEAN in maintaining regional stability and promoting closer economic integration. The joint statement said both leaders also reaffirmed their commitment to the full and effective implementation of the ASEAN 2025: Forging Ahead Together and the ASEAN Leaders’ Vision for a Resilient and Innovative ASEAN. - Bernama