Deputy Finance Minister Datuk Ahmad Maslan says a RM540 million loan from Export-Import Bank (Exim Bank) to 1Malaysia Development Berhad (1MDB) was for maintenance and upgrading of the company's energy assets overseas. – The Malaysian Insider file pic, June 17, 2015
Putrajaya revealed today that the RM540 million loan from Finance Ministry-owned Export-Import Bank (Exim Bank) to troubled 1Malaysia Development Berhad (1MDB) was for maintenance and upgrading of the company's energy assets overseas.
In denying that the loan was used by the state investment vehicle to purchase a plot of land in Pulau Indah from Tadmax Resources, Deputy Finance Minister Datuk Ahmad Maslan insisted the transaction fulfilled Exim Bank's loan requirements.
"The loan is for the maintenance of plants and upgrading of operations involving energy for export overseas," he said in the winding-up debate on the Development Financial Institutions (Amendment) Bill 2015.
- TMI
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