KUALA LUMPUR: For the first time, a Cabinet minister has admitted that 1Malaysia Development Bhd’s (1MDB) financial position is not sustainable because its debts are too high.
Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah said that 1MDB’s gearing ratio, which is a measure of debt against capital, was 17 times and unsustainable at its present form. The higher the gearing ratio, the worst off the company.
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