PETALING JAYA: 1Malaysia Development Bhd has defended itself against criticism by former prime minister Tun Dr Mahathir Mohamad by addressing various issues, from the Cabinet being unaware of a fund-raising exercise for its start-up in 2009 to events leading to its investments in Cayman Islands increasing to US$2.318bil (RM8.57bil).
The fund that is wholly owned by the Finance Ministry has come under relentless attacks from not only Dr Mahathir but also some ministers for its cash-flow problems in meeting obligations for its debts of RM42bil.
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