PUTRAJAYA: The Finance Ministry (MoF) has never given any public funds to 1Malaysia Development Bhd (1MDB) to help settle its debt, said Second Finance Minister Datuk Seri Johari Abdul Ghani.
Johari said he would not know if 1MDB were to run into problems in the future, it would seek help from the MoF.
“But so far they have not come (to us) and ask for help. In the future, it will be a different story,” he said when commenting on a rumour that a public fund was being used to resolve 1MDB’s debt.
Johari was speaking to reporters after attending the 2018 Budget Focus Group Meeting: “Increasing Small and Medium Enterprise (SME) Contribution” in Putrajaya on Tuesday.
On a report that Abu Dhabi has given 1Malaysia Development Bhd (1MDB) until Aug 31 to make a US$603mil debt settlement payment that was due on Tuesday, Johari said he was not not privy to the information as the issue was being discussed and dealt with by the boards of 1MDB and Abu Dhabi state fund International Petroleum Investment Company (IPIC).
“This is a company matter. So, I get them to go and resolve the issue. You know, out there there are so many companies affected when they do a business dealing.
“So, I cannot exaggerate too much at this stage, but one thing I want to stress... That we (MoF) certainly want 1MDB to look into this matter seriously, so that it will not affect the image of the country,” he added.
1MDB has previously written to IPIC to inform them of the payment, originally due on July 31, 2017, would be paid in August 2017 instead as it awaits the necessary fund.
It was reported that the payment, amounting to US$603mil (RM2.58bil) from 1MDB to IPIC, is part of a settlement over a debt dispute.
On the 2018 Budget Focus Group Meeting with the SMEs, Johari said various issues were brought up, including low productivity, low adoption of information and communication technology, difficulties in obtaining loans, lack of skilled workforce, and high cost of doing business.
“MoF takes note of the comments and will work closely with SME Corp Malaysia, the Malaysian Investment Development Authority and the Ministry of International Trade and Industry to address the issues,” he added. - Bernama