What was the initial target amount for the 1MDB settlement?

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The Initial Target for the 1MDB Settlement Was Between US$1.5 Billion and US$1.7 Billion

The Malaysian government's initial target for the settlement concerning the 1Malaysia Development Berhad (1MDB) dispute with two Abu Dhabi companies was set between US$1.5 billion and US$1.7 billion. The eventual settlement figure of US$1.8 billion exceeded these expectations, a development Prime Minister Datuk Seri Anwar Ibrahim highlighted as a testament to the capabilities of Malaysia's civil service.
Exceeding Expectations

Prime Minister Anwar Ibrahim expressed his satisfaction with the final settlement amount of US$1.8 billion (RM8 billion), noting that it surpassed the initial target range of US$1.5 billion to US$1.7 billion. This outcome underscored the effectiveness of the negotiations conducted by Malaysian officials.
Competency of Civil Servants

The Prime Minister attributed the successful negotiation, which involved Abu Dhabi's International Petroleum Company (Ipic) and Aabar Investments PJS (Aabar PJS), to the competency of Malaysia's civil servants. He specifically congratulated the Attorney General and his department for their efforts, particularly their reliance on internal expertise rather than extensive external consultants.
Government's Target Range

The government had established a specific range for the settlement, aiming for an amount between US$1.5 billion and US$1.7 billion. The final figure achieved, US$1.8 billion, therefore represented a significant positive outcome beyond the initial objective.
Emphasis on Internal Expertise

Anwar Ibrahim highlighted his relief that civil servants demonstrated their ability to handle complex government matters, such as the 1MDB settlement, by leveraging their skills. He stressed the importance of fostering such internal expertise, suggesting it provides opportunities for younger officers and builds confidence in handling government mandates effectively.

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What was the initial target amount for the 1MDB settlement?

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