SHAH ALAM: The Selangor government has reiterated that the debt recovery exercise by state investment vehicle, Menteri Besar Inc (MBI), involving debts owed to it by Talam Corp Bhd is not a bailout.
Menteri Besar Tan Sri Abdul Khalid Ibrahim said the exercise would see Menteri Besar Inc taking over the responsibility to recover the debts from Talam, which owed the state RM391mil after several joint venture real estate development projects with state subsidiaries over the past 10 years.
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