1MDB to just repay debts, says Arul

Addressing the crowd: Arul during a media conference at The Royale Chulan KL Hotel.

PETALING JAYA: 1MDB will have no daily ope­rations after the rationa­lisation plan and will act as a shell company, only receiving cash flow from the plan to pay bond debts.

This decision was made following the PAC recommendation that subsidiaries and asset-holders be handed over to Ministry of Finance Inc, said 1MDB president and chief execu­­­­tive officer Arul Kanda Kanda­samy.