1MDB has no bank loans or short-term debts


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Written by Syndicated News

KUALA LUMPUR, March 30 2017 : The Ministry of Finance (MoF) today said 1Malaysia Development Bhd (1MDB) does not have any bank loans or short-term loans currently.

In a written reply at the Dewan Rakyat sitting today, the ministry said 1MDB had fully settled all its debts in 2015 and 2016.

“1MDB had received RM10.97 billion in cash in 2015 and 2016 through the sale of assets of Edra Global Energy Sdn Bhd, sale of equity in Bandar Malaysia Sdn Bhd and sale of land in the Tun Razak Exchange project,” it added.

The written answer was in reply to a question from Er Teck Hwa (DAP-Bakri) who asked the Finance Minister to state the number of workers, cash, debts and assets of 1MDB in the country and overseas in 2015 and 2016.

According to the MoF, the breakdown of all 1MDB’s debts were as follows:

*RM229.5 million revolving credit facility from Affin Bank on Nov 23, 2016;

*RM950 million standby credit facility from the Government on March 31, 2016;

*RM2 billion term loan facility from Marstan Investments N.V, fully settled on Apr 8, 2016; and

*US$150 million term financing facility from EXIM Bank, fully settled on Apr 15, 2016.

The MoF also added that there were no new assets acquired in the country and overseas in 2015 and 2016, in line with IMDB’s Rationalisation Plan which is being implemented.

1MDB has 35 workers as at Dec 31, 2015 and 17 employees as at Dec 31, 2016. – Bernama



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