<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 15): The audit report on 1Malaysia Development Bhd (1MDB) says the fund would require an estimated RM42.26 billion to settle the principal cost and interest for loans maturing between November 2015 and May 2039.</p></div>

<div class=newsTextDataWrapInner><p>This was based on the assumption that 1MDB's rationalisation plan would be implemented and that no new loans are taken after October 2015, said the report prepared by the National Audit Department that was declassified today.</p></div>

<div class=newsTextDataWrapInner><p>The department noted that 1MDB would need to have a huge amount of money to undertake its payment commitment of RM4.88 billion in 2016, RM14.74 billion in 2023, and RM5.14 billion on 2039.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"1MDB would also require at least RM1.52 billion per year from November 2015 to May 2024 to settle its loans," it added.</p></div>

<div class=newsTextDataWrapInner><p>As of Oct 31, 2015, 1MDB's outstanding loans and financing amounted to RM55 billion, as against assets of RM58.6 billion, said the report.</p></div>

<div class=newsTextDataWrapInner><p>A total of RM20.31 billion of the loans and financing had received federal government guarantees and assistance.</p></div>

<div class=newsTextDataWrapInner><p>The report noted that 1MDB's issued share capital was only RM1 million during the 2010-2014 period.</p></div>

<div class=newsTextDataWrapInner><p>Such a small share capital indicates 1MDB's instability, as the fund is forced to borrow in order to finance its activities, noted the report.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (May 15): The audit report on 1Malaysia Development Bhd (1MDB) says the fund would require an estimated RM42.26 billion to settle the principal cost and interest for loans maturing between November 2015 and May 2039.

This was based on the assumption that 1MDB's rationalisat...

1MDB needs RM42.3b to settle loans, says declassified audit report

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Barisan Nasional (BN) component parties are required to help the candidate representing the unity government in the Kuala Kubu Baharu state by-election, said BN deputy chairman Datuk Seri Mohamad Hasan.

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Chief Minister Datuk Seri Hajiji Noor emphasised that the positive economic achievements over the past three years underscore the Sabah government's steadfast commitment to both the administration and development of the state.

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Property developer Scientex Bhd aims to provide a total of 50,000 units of quality housing units at affordable prices nationwide by 2028.

Scientex project general manager (property division) Tang Song Teik said that so far, the company has handed over 35,062 affordable housing units, with about 70% of them sold at prices below RM300,000.

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<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


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<p>The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.</p>


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<p>Iran’s foreign minister compared the drones used in an attack by Israel early Friday to “toys”, in comments that aimed at downplaying the significance of the strike on Iranian territory. &nbsp;</p>


<p>Property developer Scientex Bhd aims to provide a total of 50,000 units of quality housing units at affordable prices nationwide by 2028.</p>

<p>Scientex project general manager (property division) Tang Song Teik said that so far, the company has handed over 35,062 affordable housing units, with about 70% of them sold at prices below RM300,000.</p>


<p>Barisan Nasional (BN) component parties are required to help the candidate representing the unity government in the Kuala Kubu Baharu state by-election, said BN deputy chairman Datuk Seri Mohamad Hasan.</p>


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<p>The Malaysian Communications and Multimedia Commission (MCMC) has lodged police reports against three individuals, namely Badrul Hisham Shaharin or Chegubard, Mohamad Salim Iskandar (Salim Iskandar) and Wan Muhammad Azri Wan Deris (Papagomo), for making and spreading false accusations about its officers.</p>


<p>A huge blast at a military base in Iraq early on Saturday killed a member of an Iraqi security force that includes Iran-backed groups. The force commander said it was an attack while the army said it was investigating and there were no warplanes in the sky at the time.</p>


<p>Deputy Minister of Communications Teo Nie Ching cautioned the public on the latest tactics of scammers impersonating ministry officials.</p>


<p>Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.</p>


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<p>Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.</p>


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<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


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<p>Chief Minister Datuk Seri Hajiji Noor emphasised that the positive economic achievements over the past three years underscore the Sabah government's steadfast commitment to both the administration and development of the state.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>
