1MDB issues will be resolved in 2 months


Syndicated News
Written by Syndicated News

KUALA LUMPUR — October 15, 2015: The issues related to 1Malaysia Development Bhd (1MDB) will be resolved by the year’s end.

“The prime minister had issued a statement before this saying that the issues related to 1MDB will be resolved in six months, meaning by the end of this year,” said Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar last night.

It was emphasised again when the government took proactive measures recently, such as selling some of 1MDB’s assets and using the proceeds to pay and reduce the debt level, said Wahid.

“This process will be carried out in a market-friendly and transparent manner,” he said on TV3’s Question-Answer programme on the national economy.

1MDB had announced recently that its debt level was set to fall to approximately RM16 billion.

This demonstrated the success of its rationalisation plan, which was also reflected by the strong domestic and international investor interest in Edra Energy and Bandar Malaysia, said the company. — Bernama



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Syndicated News

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