1MDB's new debt level - Arul coy despite repeated queries

Despite being asked repeatedly in an interview, 1MDB president Arul Kanda Kandasamy remained coy on the state-owned company's latest debt level following the sale of several assets.

In the interview published by Berita Harian today, Arul was asked what was 1MDB's latest debt level. He declined to give an answer.

He said this was because 1MDB's financial statement had yet to be finalised.

"What I can reiterate is that our debt now matches our cash flow to pay for the interest and principal," he said.

When pressed for a second time on 1MDB's remaining debt he instead provided figures from 2014.

"Based on our last financial statement, it is at RM42 billion," he said.

Asked again on 1MDB's debt level after the sale of Edra Energy, a 40 percent stake in Bandar Malaysia and land in Tun Razak Exchange, he again refused to give a figure.

"We are not yet in a position to give a complete answer," he said.

Arul said this was because 1MDB had yet to decide whether it wanted to pay off some of its debts or retain them.

However, he said all short-term debt will be cleared.

Najib had on Dec 31 announced the the sale of 1MDB assets that will allow the company to pare down its debt by RM40.4 billion.

However, following the rapid fall of the ringgit, 1MDB's debts which are mostly in US dollars, have increased from the initial level of RM42 billion.

In the interview, Arul also said he had no regrets in taking over the helm of the controversy-plagued 1MDB.

"I have no regrets at all as I feel I am part of the solution.

"As a Malaysian and with the skills and experience I have, it is my responsibility to do my best," he said.

He added that even though it was tough and exhausting to lead 1MDB, it was also professionally and personally rewarding. -Mkini