PETALING JAYA: Former Goldman Sachs executive Roger Ng and his family have agreed to surrender about S$40 million (RM120m), currently frozen in the island republic, to Singapore authorities, news agency Bloomberg reported today. Citing sources, Bloomberg said Singapore will then repatriate the funds to Malaysia. In September, Singapore had repatriated S$15.3 million (RM46.075 million) in funds linked to 1Malaysia Development Berhad (1MDB) and SRC International to Malaysia. The Bloomberg report also said Ng is reportedly challenging the move to extradite him to the US to face criminal charges over the 1MDB scandal. He was arrested by Malaysian police last week. Ng had worked for Goldman Sachs in Southeast Asia. According to the report, the three-count criminal indictment at a federal court in New York pertains to Low and Ng conspiring to launder billions of dollars embezzled from 1MDB and conspiring to violate the FCPA by paying bribes to various Malaysian and Abu Dhabi officials.