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Malaysia in transition

Malaysia and Goldman Sachs seek elusive 1MDB settlement

Source says Muhyiddin government more 'flexible' than Mahathir's

The 1MDB scandal in Malaysia has become a cloud over U.S. investment bank Goldman Sachs.    © Reuters

KUALA LUMPUR -- Malaysia and global investment bank Goldman Sachs are working toward a multibillion-dollar settlement related to the scandal that engulfed defunct state fund 1Malaysia Development Berhad, with a source describing the talks as a shift in the government's approach following Prime Minister Muhyiddin Yassin's rise to power.

Confirming media reports earlier this week, people close to the discussions told the Nikkei Asian Review that a team representing Goldman Sachs Chairman and CEO David Solomon was in Malaysia to restart negotiations with the Finance Ministry, after a four-month hiatus due to the country's coronavirus lockdown.

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