1MDB Still Has RM32.3 Billion Outstanding, Board Says

PETALING JAYA: 1Malaysia Development Bhd (1MDB) still has RM32.3 billion in unpaid debt, its board of directors announced on Friday (March 26th).

He said two bonds worth US $ 3.5 billion (RM14.7 billion) with coupon rates of 5.75% and 5.99% per annum will mature in 2022, while that another worth $ 3 billion (RM12.6 billion) with a coupon of 4.4% per annum will mature in 2023.

He added that the last remaining debt of 1MDB is an RM5bil sukuk with a profit rate of 5.75% per annum, with a maturity of 2039.

“The total of bonds / principal sukuk and coupon / profit payable to maturity is RM 40.51 billion.

“1MDB will continue its recovery efforts to enable it to pay bondholders and sukuk holders when these debt securities mature,” the board said in the statement.

He also said that the recovery of 1MDB’s assets remains a key priority for them and that as part of the process, the Ministry of Finance has set up a special task force.

It includes representatives from 1MDB, Office of the Attorney General, Securities Commission of Malaysia, Bank Negara Malaysia, Royal Malaysian Police, National Financial Crime Center, Malaysian Anti-Crime Commission. Against Corruption and the National Center for Governance, Integrity and Anti-Corruption.

“The recovery process also involves the appointment of a legal advisor to assist 1MDB’s civil actions and asset recovery efforts.

“These legal advisers are paid on the basis of a cost of time agreed in advance, and not on the basis of a commission or a percentage of the value of the settlements or the assets recovered,” he said. he adds.

The Board of Directors stated that all proceeds from 1MDB’s asset recovery efforts, including any future settlements, have been or will be deposited into an asset recovery trust account which is in the custody of the department. of the general accountant.

Malaysia recently received a US $ 2.5 billion (RM 10.23 billion) cash settlement from Goldman Sachs.

1MDB also reached a deal with AMMB Holdings Bhd for RM2.83 billion and Deloitte PLT for RM324 million.

On March 20, Selangor assembly member Sallehudin Amiruddin filed a police report, requesting an investigation into a claim that a commission of RM500 million was paid to the Pribumi Bersatu Malaysia Party through from a leading Putrajaya settlement lawyer with Goldman Sachs over the 1MDB scandal.

Party news chief Datuk Wan Saiful Wan Jan denied the claim and accused the opposition of spreading slander.

Naomi C. Amerson