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

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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.

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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 »