1MDB not bankrupt, says Najib

KUALA LUMPUR: The issue of 1 Malaysia Development Bhd (1MDB) going bankrupt does not arise as the Government investment arm has already settled a debt of RM2bil, Prime Minister Datuk Seri Najib Tun Razak (pic) said.

“1MDB has paid off a RM2bil debt with Maybank and RHB on Feb 13, 2015 in accordance with the terms of the loan agreement. Therefore, the issues of 1MDB going bankrupt does not arise,” said Najib, in his capacity as Finance Minister, in a written parliamentary reply to Jeff Ooi (DAP - Jelutong) which was published on Wednesday.

Ooi had asked if 1MDB had declared bankruptcy for allegedly failing to pay off the RM2bil debt in accordance with the contractual scheduled repayment with Maybank and RHB bank.

Ooi also questioned why Bank Negara had not responded to the matter.