"The TRX project (Tun Razak Exchange) will be completed, despite more than three (3) billion ringgit of government funds misappropriated from TRX City Sendirian Berhad (Private Limited) by 1MDB (1 Malaysia Development Board). Cabinet at its meeting yesterday has decided to inject a ceiling cap of two point eight (2.8) billion ringgit, to ensure the completion of the Tun Razak Exchange."
ASSOCIATED PRESS - AP CLIENTS ONLY
Kuala Lumpur - 30 March 2018
3. STILL: The Exchange 106 under construction within the Tun Razak Exchange (TRX) area
"Ive instructed the management of TRX city, represented here by its CEO, Datuk Haji (Honourific title) Azmar Talib and the Chief Operating Officer, Tan Hwa Ming to lodge a report with the investigative panel of 1MDB, and the police, on the amount that has been misappropriated."
Malaysia said on Thursday it will not cancel a skyscraper project billed as the tallest in the region even though three billion ringgit (747 million US dollars) from the venture has been misappropriated by the 1MDB state fund linked to former premier Najib Razak.
Finance Minister Lim Guan Eng said Najib's government has since 2012 guaranteed borrowings, extended advances and purchased land from TRX City Sendirian Berhad amounting to nearly 3.7 billion ringgit (921.4 million US dollars), but 3.067 billion (764 million US dollars) of that was misappropriated by 1MDB, mainly to repay its loans.
The new revelation of embezzlement linked to 1MDB comes more than a month after Najib's coalition, which had ruled Malaysia since independence from Britain in 1957, suffered a shocking defeat in May 9 polls partly due to voters' anger over the scandal.
The fund is being investigated in the U.S. and several other countries for alleged theft and money laundering.
Lim said the stolen TRX fund was a "classic example" of how government money was misappropriated by 1MDB and that he had instructed the TRX management to lodge complains with authorities investigating the defunct fund.