Four 1MDB-linked pieces of art, including a Picasso, safely returned to Malaysia

PETALING JAYA – Four pieces of art worth nearly RM800,000 (S$258,000) have been returned to Malaysia, says the Malaysian Anti-Corruption Commission (MACC).

The MACC said that the artworks had been successfully repatriated as part of 1Malaysia Development Berhad (1MDB) asset recovery exercise and are currently housed securely at its Putrajaya headquarters.

“These artworks are part of the assets recovered in connection with the misappropriation of funds from 1MDB, achieved through the Malaysian government’s ongoing and coordinated efforts led by MACC, involving close collaboration between domestic enforcement agencies and international strategic partners,” it said in a statement on April 14.

It estimated the artworks’ combined value at RM786,556.25.

The four artworks are: Joan Miro’s Composition (1953), Maurice Utrillo’s Maison de rendez-vous de chasse de Henri IV, Rue St. Vincent, Montmartre (1934), Balthus’ Etude pour femme couchée (1948) and Pablo Picasso’s L’Ecuyere et les clowns (1961).

According to MACC, all artworks have been placed in a specially designated location under strict security and are currently undergoing an environmental stabilisation process to ensure optimal preservation prior to uncrating, authentication and valuation by the National Visual Arts Development Board.

“The return of these artworks not only symbolises Malaysia’s continued success in recovering misappropriated assets but also strengthens the country’s standing in implementing best practices in asset recovery at the international level,” it said.

Malaysia has successfully recovered approximately RM31.2bil in assets linked to 1MDB so far, which make up close to 70 per cent of the total identified assets.

“This achievement is significant and is often cited as a benchmark at the international level in efforts to recover assets derived from large-scale financial crimes,” MACC said. THE STAR/ASIA NEWS NETWORK