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Friday, November 29, 2019

RM205m collected in Tabung Harapan used to pay 1MDB debts - MOF



Tabung Harapan Malaysia’s fund totalling RM205 million has been fully utilised to pay the debts of 1Malaysia Development Bhd (1MDB), the Finance Ministry said in a statement issued today.
Its minister, Lim Guan Eng said last Nov 28, the government used RM61.68 million from Tabung Harapan for the amortisation of the 1MDB IMTN (Islamic medium term note) sukuk interest.
“The payment of RM61.68 million through Tabung Harapan is only part of the total IMTN interest amounting to RM143.75 million. The remaining RM82.07 million was paid through 1MDB's asset recovery fund amounting to about RM1.45 billion so far,” he said.
Lim said the government was committed to pay off all the loan obligations inherited from the previous administration, with the next payment of US$66 million to be made by 1MDB, which is due on March 9, 2020, on the 1MDB Global Investments Limited (GIL) bond interest.

"Overall, a total of RM13.9 billion has to be spent by the government to pay off the debts by 1MDB and SRC International Sdn Bhd (SRC) from 2017 until 2020,” he added.
Lim said 1MDB’s current debts amounted to RM50.5 billion, including interest, and would only be fully repaid in 2039.
On Feb 7, the Finance Ministry announced the amount of fund in Tabung Harapan as of Jan 14, 2019, was RM202.71 million, and with investment benefits of RM2.77 million, bringing the total amount to RM205.49 million.
- Bernama

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