Malaysia has received US$2.5b from Goldman Sachs - report

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Malaysia has received a US$2.5 billion payment from Goldman Sachs yesterday, according to a report. The tranche payment was paid via an escrow account, which is an account where funds are held in trust whilst two or more parties complete a transaction. The Edge cited a source familiar with the Malaysia-Goldman Sachs deal as confirming the transaction. "Now we have to work with Goldman Sachs to track other assets and wrongdoers. Their resources will be useful to us," the source was quoted as saying. Last month, the Perikatan Nasional government struck a US$3.9 billion settlement with Goldman Sachs over the bank's role in the theft of 1MDB funds. However, the deal has been criticised, as the bank will only need to pay US$2.5 billion in cash while the remaining is a US$1.4 billion guarantee on the recovery of assets acquired using stolen 1MDB funds, which is largely bein…