Najib: ‘1MDB owes local banks RM5.037b’

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KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) owed local banks a total of RM5.037 billion as of January 2015, said Finance Minister Datuk Seri Najib Razak.

“As of January 2015, 1MDB owed local banks a total of RM5.037 billion,” Najib said in a brief one-line written reply to Pandan Member of Parliament Rafizi Ramli yesterday.

Rafizi asked the minister to state all of 1MDB’s debts with local banks as of January 2015, and the latest audit result by Bank Negara Malaysia (BNM) on each of these debts.

Rafizi had said earlier when it was known that 1MDB faced problems servicing its RM2 billion loan from local banks in February, BNM had conducted a compliance audit on local banks.

He had urged the central bank to make the report on the audit public.

 

This article first appeared in The Edge Financial Daily, on March 27, 2015.