News Formal

Finance Minister: Repatriated 1MDB assets will be used to repay debts

  • 📰 staronline
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 75%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

PETALING JAYA: The government will use the repatriated US$322mil (RM1.34bil) in 1MDB assets from the United States and SG$50mil (RM152.4mil) from Singapore to repay 1MDB debts of RM51bil, says Finance Minister Lim Guan Eng.

"The Finance Ministry warmly welcomes the Attorney General's Chambers' announcement that US$322mil from 1MDB assets is to be returned to Malaysia following the United States Department of Justice's Kleptocracy Asset Recovery Initiative.

"The funds received through the repatriation of 1MDB assets will be used to service 1MDB's debts amounting to RM51bil. This amount includes the amount of interest borne and loans from MoF of RM8.6bil that were used to repay 1MDB's debts to date. "The repatriation of these assets through legal processes also proves that 1MDB-related wrongdoings have occurred.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance Ministry: Returned 1MDB funds will be used to service debts | Malay MailKUALA LUMPUR, May 8 — The US$322 million (RM1.3 billion) received through the repatriation of 1MDB assets will be used to service the sovereign wealth fund’s total debts of RM51 billion. The Finance Ministry said the debt amount includes the interest borne and loans taken from the ministry of...
Source: malaymail - 🏆 1. / 86 Read more »