1MDB needs RM42bil to settle loan, says audit report - News Summed Up

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1MDB needs RM42bil to settle loan, says audit report


KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) needs about RM42 billion to settle its loans, together with interest, between November 2015 and May 2039. This is according to Auditor-General in its executive summary of the audit report on the embattled strategic development fund. The report noted that 1MDB’s issued share capital was only RM1 million during the 2010-2014 period. As of October 31, 2015, 1MDB’s outstanding loans and financing totalled up to RM55 billion with assets amounting to RM58.6 billion. The report noted that 1MDB’s Islamic Medium Term Notes (IMTN) that was issued in 2009 and mature in 2039, will have a coupon repayment rate of RM287.5 million a year.


Source: New Strait Times May 16, 2018 13:52 UTC


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