News Formal

RM27.17bil linked to 1MDB recovered as of September, says Finance Ministry

  • 📰 staronline
  • ⏱ Reading Time:
  • 36 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 75%

Courts Crime News

Asset Recovery Trust Account,1MDB,Hannah Yeoh

(Reuters) -Ingram Micro is targeting a valuation of up to $5.42 billion in its U.S. initial public offering, the technology products distributor said on Tuesday, underscoring a resurgence in private-equity backed stock market listings.

KUALA LUMPUR: The government has recovered a total of RM27.17bil related to 1Malaysia Development Bhd as of Sept 30, 2024.

"The government will continue its efforts to recover all funds related to 1MDB that have been misappropriated, with the primary goal of maximising returns to settle 1MDB’s debts within the stipulated timeframe,” she said in the Dewan Rakyat on Tuesday . She stated that this financing was carried out through the sukuk issuance of Islamic Medium Term Notes on May 29, 2009, with a maturity period of 30 years at an interest rate of 5.75 per cent per annum.Yesterday, the Auditor General’s Report 3/2023 reported that the federal government had allocated grants amounting to RM39.74bil to 1MDB from 2019 to 2023 for principal repayment and other expenses, including bond interest and coupon payments.

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.

Oracle to set up public cloud region in Malaysia with RM27 billion investmentOracle is expanding its Oracle Cloud Infrastructure (OCI) coverage in Asia Pacific by establishing a new public cloud region in Malaysia. This investment, exceeding RM27 billion, will provide more than 150 cloud services, including AI and high-performance computing capabilities. The move aims to offer low-latency access to cloud services for local and multinational companies operating in Malaysia, while also helping them meet data residency requirements.
Source: Soya_Cincau - 🏆 16. / 55 Read more »

1MDB’s ex- CEO Arul Kanda clueless on company’s ‘investments’KUALA LUMPUR: The High Court here today was told that the former chief executive officer (CEO) of 1Malaysia Development Berhad (1MDB) Arul Kanda Kanda...
Source: theSundaily - 🏆 25. / 51 Read more »