PUTRAJAYA: The government will have to step in should 1Malaysia Development Bhd (1MDB) fail to service its debt payment, due next week. Finance Minister Lim Guan Eng said this was because of the government’s back-to-back guarantee over 1MDB. “I have also been informed that Arul Kanda (Kandasamy) remains 1MDB president and chief executive officer until June 30. “Therefore, I have given instructions for Arul Kanda to brief and clarify if 1MDB is able to pay the above sum due next week,” he told reporters after meeting Finance Ministry officers on Tuesday. “We are extremely concerned with regards to this because I have been informed by the Finance Ministry officials that the ministry has been bailing out 1MDB’s debt service obligations since April 2017,” he said.

Source: New Strait Times May 22, 2018 10:52 UTC