Deputy Finance Minister: Govt guarantee for 1MDB at RM5.8b only

  • Corporate News
  • Saturday, 08 Nov 2014

KUALA  LUMPUR: The government guarantee issued in favour of 1MDB is only at RM5.8bil, Deputy Finance Minister Datuk Ahmad Maslan said on Saturday, pointing out there was no letter guaranteeing  more than the amount.

He reiterated that as it was made clear in the Parliament on Thursday the government guarantee issued in favour of 1MDB was only at RM5.8bil.

“I would like to inform that there is no letter that guarantees more than the amount stated. The government did not issue any more guarantees other than the RM5.8bil for 1MDB or its wholly owned subsidiaries, including for the US$3bil bonds.

“As reported in the 1MDB's FY2013 accounts, a letter was issued as 1MDB’s sole shareholder.

“Under the terms of this letter, should 1MDB not honour their obligations related to this bond, any claims against the government (in addition to 1MDB) is only limited to the terms of the letter, which is not a government guarantee,” he said.

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