1MDB problem almost over, says Ahmad Maslan

 

Ahmad Maslan told the Dewan Rakyat the government was also taking action to have a suit by Goldman Sachs dismissed. (Bernama pic)

KUALA LUMPUR: Deputy finance minister Ahmad Maslan believes that the “1MDB problem” is coming to an end, as the government is almost done settling the investment company’s debts.

He said the outstanding debt stood at RM5.15 billion at the end of September.

A payment of US$1 billion (RM4.65 billion) is expected next year from the International Petroleum Investment Company of Abu Dhabi, while the overall balance of the trust account amounted to RM9.85 billion.

The sum is enough to settle the remaining debt, he said. “I think the 1MDB problem is almost over,” he told the Dewan Rakyat in winding-up the committee-stage debate on the 2024 budget.

He said the government will only need to make an interest payment of RM287 million next year.

Fighting off Goldman Sachs

Ahmad said the government was taking measures to counter the demands by investment bank Goldman Sachs which commenced arbitration proceedings against the government in London last month.

The company sued the government following a disagreement over the settlement terms, which require Goldman Sachs to make an interim payment of US$250 million if Malaysia fails to recover at least US$500 million from the company by August 2022.

Goldman Sachs claims that the US$500 million threshold has been met.

“So we are taking action to have the suit by Goldman Sachs dismissed.” - FMT