Lim orders 1MDB to come clean on ability to service debts

image: https://www.thestar.com.my/~/media/online/2018/04/09/06/18/guan-eng.ashx/?w=620&h=413&crop=1&hash=BD8985623E0F1D4ED47322358BF25338D1B7CC52

KUALA LUMPUR: New Finance Minister Lim Guan Eng has ordered 1Malaysia Development Bhd (1MDB) to brief him on the company’s ability to make the RM143.75mil interest payment due on May 30.

“Besides the RM143.75mil that is due at the end of the month, another RM810.21mil worth of interest is due between the months of September and November,” he said.

Lim said yesterday that he was informed by Treasury officials that the government had been making debt payments on behalf of 1MDB since April 2017.

He was speaking to reporters on his first day as Finance Minister..

“Arul Kanda has to date insisted that 1MDB  is fully able to service its debt obligations,” Lim said, adding that he was informed that Arul remains as president of 1MDB until June 30.

Lim said he had requested 1MDB directors Datuk Kamal Mohd Ali and Datuk Norazman Ayob to brief the ministry on the company’s current state of affairs.

“There were complaints that certain ‘red’ files that were only accessible to certain parties which impeded officials and auditors from carrying out their professional responsibilities with integrity,” Lim said.

He added that it was clear that the previous government had “conducted an exercise of deception”, not just over 1MDB, and misrepresented the financial situation in Parliament.

“I have directed that all accounts must be accessible to both Treasury and the Auditor-General,” Lim said.

Lim was sworn in as Finance Minister on Monday. -Star