Goldman Sachs Singapore Pte (GSSP) will pay US$122 million (RM505.8 million) to the Singapore government for its role in the 1MDB bond offerings.

This is according to a joint statement by the republic’s Commercial Affairs Department (CAD), the Monetary Authority of Singapore (MAS), and the Attorney-General’s Chambers (AGC) issued early this morning.

The statement said the CAD has served GSSP a 36-month conditional warning, in consultation with the AGC.

Following that, GSSP has committed to, among other things, paying US$122 million to the Singapore government’s Consolidated Fund...