New Finance Minister Lim Guan Eng wants 1MDB CEO Arul Kanda Kandasamy to ensure that the company can fork out RM143.75 million for an upcoming interest payment due on May 30.
Lim said that this was based on Arul's insistence under the previous BN administration that 1MDB was capable of paying its own debts, though it has now been revealed the company received almost RM7 billion in bailouts.
"I have been informed by deputy treasurer-general Siti Zauyah Mohd Desa that among the most urgent items to be resolved in my first days of office is the payment of interest for 1MDB borrowings.
"This is because the amount of RM143.75 million is due to be paid by 1MDB next week.
"Arul Kanda has to date insisted that 1MDB is fully able to service its debt obligations. Therefore, I have given instructions for Arul Kanda to brief and clarify if 1MDB is able to pay the above sum due next week," he told a press conference in Putrajaya today.
Lim added that another RM810.21 million in interest from 1MDB's debts are due between the months of September and November.
Reporting on his first day of work as finance minister today, he revealed that the scandal-plagued investment firm received RM6.98 billion in bailout from the previous BN government.
This was despite 1MDB insisting that it was capable of paying for its own debt from its rationalisation exercise. -Mkini
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