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Finance Ministry: RM1.8b received from AmBank in 1MDB settlement | Malay Mail

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Finance Ministry: RM1.8b received from AmBank in 1MDB settlement

KUALA LUMPUR, July 2 — The government has received RM1.8 billion from AMMB Holdings Bhd, representing the first tranche of the RM2.83 billion settlement related to 1Malaysia Development Bhd , the Ministry of Finance announced today.“The remaining settlement payment of RM1.03 billion will be settled by AMMB Holdings in December 2021 and July 2022, amounting to RM515 million each,” the ministry said in a statement.

These funds have been/will be used to settle the outstanding debts of 1MDB and SRC International Sdn Bhd, MoF said. “As at June 30, 2021, the outstanding debt comprising principal and coupons/ profit/ interest for bonds, sukuk and term loans, amounted to RM39.66 billion and RM1.85 billion . However, the current balance of the trust account is only enough to pay off the principal and interest of 1MDB's debt for 2021 and 2022 only,” he said.

 

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