Despite its asset recovery efforts, the board said that 1MDB has outstanding debt of RM32.3bil, of which two USD-denominated bonds with a value of US$3.5bil (RM14.7bil) with coupon rates of 5.75% and 5.99% per annum will mature in 2022.
PETALING JAYA: 1Malaysia Development Bhd’s (1MDB) board has appointed legal counsels to assist with its civil action and asset recovery efforts.
“These legal counsels are remunerated based on a pre-agreed time cost, and not based on commission or a percentage of the value of settlements, or assets recovered, ” it said in a statement yesterday.
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