1MDB is not bankrupt - Najib
Bernama
April 8, 2015 07:57 MYT
April 8, 2015 07:57 MYT
Najib said it was a non-issue as 1MDB had settled its debt of RM2bln to two financial instutions two months ago. - File Photo
The government on Wednesday refuted the allegation that its strategic investment company, 1Malaysia Development Berhad (1MDB), is bankrupt.
In fact, Finance Minister Datuk Seri Najib Tun Razak said it was a non-issue as the company had settled its debt of RM2 billion to two financial institutions two months ago.
"1MDB had settled its debt of RM2 billion with Maybank and RHB Bank on Feb 13, 2015 according to the loan's terms and conditions.
"As such, the issue of 1MDB being bankrupt does not arise," said Najib, who is also Prime Minister, in a written reply to Jeff Ooi Chuan Aun (DAP-Jelutong) at the Parliament here, Wednesday.
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Oii had asked the Finance Minister to explain whether or not the 1MDB had gone bankrupt after being unable to repay its debt of RM2 billion to the financial institutions.