KUALA LUMPUR: Finance Minister Lim Guan Eng’s allegations that the ministry, Khazanah Nasional Bhd and Bank Negara had to bail out 1Malaysia Development Bhd (1MDB) to the tune of RM7 billion is not only misleading, but politically-motivated to obscure the facts. However, although MOF Inc took over the assets, the debt or liabilities of 1MDB remained in the company. “Accordingly, the arrangement, as I can confirm, is for MOF Inc to service 1MDB debts, but in return for taking over the assets. “Therefore, the question of MOF or BNM or Khazanah bailing out 1MDB does not arise at all. “The (Finance Minister) must ‘walk the talk’ on CAT (competency, accountability and transparency).

Source: New Strait Times May 25, 2018 15:11 UTC