PUTRAJAYA (May 6): The remaining eight pieces of artwork purchased by former 1Malaysia Development Bhd (1MDB) associate Jasmine Loo Ai Swan are expected to be repatriated by the end of this year, according to outgoing Malaysian Anti-Corruption Commission (MACC) chief commissioner Tan Sri Azam Baki.

These pieces are valued at an estimated US$1.7 million (about RM6.9 million). Azam, whose contract is slated to end on May 12, announced the update on Wednesday during a press conference at the MACC headquarters.

“Another eight [artworks] are still in various stages of recovery, involving issues of mutual legal assistance and so on. Inshallah (God willing), they will be returned by the end of this year,” Azam said while flanked by four repatriated pieces.

The four repatriated artworks, with a combined value of RM800,000, comprise: Joan Miró's Composition (valued at US$93,750), Maurice Utrillo's Maison de rendez-vous de chasse de Henri IV, Rue St Vincent, Montmartre (US$50,000), Balthus' Étude pour femme couchée (US$28,125), and Pablo Picasso's L’Écuyère et les clowns (US$26,250).

The remaining eight paintings yet to be returned include works by Picasso (valued at US$1.265 million), Alexander Calder (US$125,000), William H Bailey (US$66,250), Henri Matisse (US$52,500), Raoul Dufy (US$40,000). Two additional works by Salvador Dali and Gustave Louiseau are also part of the list, though their values are still being verified.  

In addition to the physical artworks, Azam said the MACC is also "actively working" to recover proceeds from the sale of a painting by Claude Monet, titled Vétheuil au Soleil. The masterpiece was recently sold in Switzerland for approximately €25.2 million, or around RM114 million, he said.

“These funds are currently under seizure proceedings by the US authorities. Recovery efforts are ongoing through legal channels and cooperation with authorities in the US and Switzerland,” he added.

On the four repatriated pieces, Azam said they will be placed under the care of the National Art Gallery by next week. The final decision on what to do with them — whether they be kept or put up for auction — rests with the Ministry of Finance, he said.

Meanwhile, the MACC is looking at another US$2 billion in 1MDB-linked assets targeted for recovery by end-2027, Azam said.

“I don’t know, but I predict this US$2 billion will be the last [in funds to be recovered],” he quipped.

As of the end of 2025, Malaysia had recovered RM31.3 billion or 74.53% of the estimated RM42 billion in misappropriated 1MDB funds.

“This achievement represents one of the highest asset recovery rates in the world for a large-scale financial crime scandal,” Azam said.