KUALA LUMPUR: There was a brief outcry in the Dewan Rakyat today as religious affairs minister Idris Ahmad filled in to answer questions on 1MDB and SRC International’s debt repayment issue that was supposed to be answered by the finance ministry.
The finance minister and his two deputy ministers were absent in the lower house when the matter was brought up.
Dr Xavier Jayakumar (Ind-Kuala Langat) told the Speaker that the change of minister “is not right”.
He was supported by Fahmi Fadzil (PH-Lembah Pantai), who asked: “Where are the minister and two deputies (when we) are we paying them expensive (salaries)?”
Despite the barrage of comments from the opposition, Idris continued explaining the status of the 1MDB and SRC International debt repayment, as asked by Karupaiya Mutusami (PH-Padang Serai).
He said the government had, through the finance ministry and Minister of Finance Incorporated (MOF Inc), been channelling loans and advance payments amounting to RM10 billion to repay 1MDB’s commitment and debt interests from April 2017 to November last year.
Other than direct financial assistance from the government, he said, the debt interests of 1MDB had also been paid for using the Assets Recovery Trust Fund established under the finance ministry.
Idris said that of Feb 28, the amount of 1MDB assets recovered – in the form of foreign currencies such as the US, Singapore and Australian dollars – was RM19.14 billion . The fund had already spent RM3.31 billion for the purpose of paying back 1MDB bond interests.
He said the government still needed to cover a shortfall amounting to RM17 billion to settle the balance of 1MDB’s principal and debt interests, amounting to RM38.8 billion, for the period of 2022 until 2039.
On the matter of debt payment by SRC international, Idris said the company had repaid RM314.72 million from 2014 until Feb 28 this year to Retirement Fund Incorporated (KWAP) bringing the total to over RM5.05 billion.
The final repayment to KWAP, amounting RM610.22 million, had been scheduled for March 28 and all payments made by the government were from its financial resources. - FMT
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