This article first appeared in The Edge Financial Daily on May 17, 2019

KUALA LUMPUR: Tabung Harapan Malaysia’s (THM) entire funds amounting to RM203.29 million will be used to repay a portion of 1Malaysia Development Bhd’s (1MDB) debt, said Finance Minister Lim Guan Eng.

He said the THM trust accounts committee had, during its meeting on April 24, decided that the THM money be used to pay a portion of 1MDB’s 2019 debt amounting to RM1.7 billion.

“While the THM funds may not be able to repay 1MDB’s entire debt of RM51 billion, the funds will remain as a symbol of Malaysians’ loyalty and patriotism when it comes to repaying the country’s debt,” he said in a statement yesterday.

Guan Eng said the total amount of the funds stood at RM202,716,775.10 as of Jan 14, the closing date for contributions.

In addition, there was an interest amount received from fixed deposit investments totalling RM575,342.31 up to March 31.