Question:
Mr Leong Mun Wai: To ask the Minister for Home Affairs with regard to assets surrendered to the state in connection with the $3 billion money laundering case, as of 31 December 2024 (a) what is the total value of the assets surrendered in cash and non-cash assets respectively; (b) what percentage of the non-cash assets have been disposed; (c) what is the total cost incurred in safekeeping the assets; and (d) what is the total value of assets that have been paid into the Consolidated Fund.
Answer:
Mr K Shanmugam, Minister for Home Affairs and Minister for Law:
1. As of December 2024, assets amounting to approximately
S$2.79 billion, linked to the S$3 billion money laundering case, had been surrendered to
the state. Of this S$2.79 billion, S$1.54 billion were in cash or financial assets, and the
rest were in non-cash assets, which includes properties, vehicles, and luxury items.
2. These assets are progressively being liquidated. As of December 2024, 54 properties,
33 vehicles and 11 country club memberships have been liquidated. Proceeds from the
liquidation of non-cash assets would subsequently be paid into the Consolidated Fund.
3. About S$1.8 million has been paid into the Consolidated Fund as of December 2024.
Another S$390 million, which includes proceeds from the liquidation, are pending
similar payment into the Consolidated Fund in Financial Year 2024.
4. The Police incurred over S$600,000 in Financial Year 2023, to maintain the assets.
This is the latest figure we have, as the Police track these expenses on an annual basis.
