Prime Minister Najib Razak has come forward to address PKR vice-president and secretary-general Rafizi Ramli’s question on beleaguered sovereign development fund 1Malaysia Development Berhad (1MDB).
In a written reply to Rafizi’s inquiry on just how much 1MDB owes local banks, Najib said that the fund, wholly owned by the Finance Ministry, is just over RM5 billion in debt to Malaysian lenders.
“Up to January 2015, the total amount of debts by 1MDB with local banks is RM5.037bil,” Najib stated, as quoted by Yuen Meikeng of The Star Online.
Rafizi had also asked the PM to reveal the latest audit findings by Bank Negara about each of 1MDB’s loans. It remains to be seen if Najib will be forthcoming with a breakdown of the audit.
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