Najib: 1MDB is now free of short-term debts, bank debts - Nation | The Star Online
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Najib: 1MDB is now free of short-term debts, bank debts

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has cleared all of its short-term debts and bank debts amounting over RM3bil over the last two years, said Prime Minister Datuk Seri Najib Tun Razak (pic).

"At the moment, 1MDB has no outstanding short or long-term debts," said Najib, who is also Finance Minister, in a written reply in Parliament Thursday.

He was responding to a question from Er Teck Hwa (DAP-Bakri), who asked the Finance Ministry to reveal 1MDB's debts.

Najib said the debts, including RM950mil in a standby credit facility from the Federal Government, were fully paid on March 30 last year.

He said 1MDB also made full settlement amounting to RM229.5mil for a revolving credit facility to Affin Bank on Nov 23, 2015.

"A total of RM2bil was paid to Marstan Investments N.V. for a term loan facility on April 8 last year," he said.

Najib added that a total of RM662.85mil (US$150mil) for a term financing facility from Exim Bank was fully paid on April 15 last year.

He said the ministry had raised cash amounting to RM10.97bil through the sale of assets from Edra Global Energy Bhd, equities in Bandar Malaysia Sdn Bhd and land in the Tun Razak Exchange project.

"As the rationalisation of 1MDB is still ongoing, no new assets were acquired locally or internationally in 2015 and 2016."

To a question on staff numbers, Najib said in line with its rationalisation plan, 1MDB had 35 officers as of Dec 31, 2015, and 17 as of December last year.

Najib Razak , 1MDB , Parliament , Debt free