The police estimate the haul, the biggest in the country's history, is worth over $273 million.
The sale is to "try to monetise whatever we can", he told news wire The Associated Press in an interview published Friday.
He said government debt had ballooned to more than 1 trillion ringgit (US$251 billion) and that the Finance Ministry had bailed out 1MDB by paying almost 7 billion ringgit (US$1.76 billion) to service its debts since April 2017, contrary to 1MDB's claim that the money was from a rationalization exercise. Arul joined 1MDB in 2015 to turnaround the debt-laden state fund.
Malaysia's former deputy prime minister was questioned for eight hours by the country's anti-corruption agency on Monday as part of an expanded investigation into alleged theft and money-laundering at the 1MDB state investment fund. They say $27.3 million was used to buy a rare diamond necklace for his wife, Rosmah Mansor.
Najib stepped down as head of the United Malays National Organization, or UMNO party, after his electoral defeat and could face criminal charges soon.
US investigators say Riza's company, Red Granite Pictures Inc., used money stolen from 1MDB to finance Hollywood films including the Martin Scorsese-directed "The Wolf of Wall Street". "Who is stupid to do that", he said.
If Najib had won another term, Lim said Malaysia would've plunged into a "deeper black hole".
"The glass half full will allow us to rehabilitate our finances, to recuperate so that we can be reinvigorated to be a dynamic economy", he added.
"Indeed, the smooth election is a manifestation of Umno members who love the party and want the party to recoup to remain relevant on the nation's political stage", he said in a statement here last night.
Lim said the Federal Government will be announcing many more "mini 1MDB" scandals under the previous government. Anwar's wife, who is now the deputy prime minister, will step down at the time, Lim said. "We know who is the next prime minister".