1MDB free of short- and long-term debts, says Najib

  • Nation
  • Friday, 31 Mar 2017

1Malaysia Development Bhd (1MDB) has cleared all of its short- and long-term debts amounting over RM3bil over the past two years, said Prime Minister Datuk Seri Najib Tun Razak.

“At the moment, 1MDB has no outstanding short- or long-term debts,” said Najib, who is also Finance Minister, in a written reply yesterday.

He was responding to a question from Er Teck Hwa (DAP-Bakri), who asked the Finance Ministry to reveal 1MDB’s debts.

Najib said the debts, including RM950mil in a standby credit facility from the Federal Government, were fully paid on March 30 last year.

He added that 1MDB also made full settlement amounting to RM229.5mil for a revolving credit facility to Affin Bank on Nov 23, 2015.

“A total of RM2bil was paid to Marstan Investments N.V. for a term loan facility on April 8 last year,” he said.

Najib added that a total of RM662.85mil (US$150mil) for a term financing facility from Exim Bank was fully paid on April 15 last year.

He said that the ministry had raised cash amounting to RM10.97bil through the sale of assets from Edra Global Energy Bhd, equities in Bandar Malaysia Sdn Bhd and land in the Tun Razak Exchange project.

“As the rationalisation of 1MDB is still ongoing, no new assets were acquired locally or internationally in 2015 and 2016,” he said.

To a question on staff numbers, Najib said in line with its rationalisation plan, 1MDB had 35 officers as of Dec 31, 2015, and 17 as of December last year.

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