Finance Ministry-owned 1Malaysia Development Bhd has come in defence of its fina…

Finance Ministry-owned 1Malaysia Development Bhd has come in defence of its finances by pointing out that only a paltry RM1 million of its multi-billion ringgit portfolio came from the government.

The firm chaired by Prime Minister Najib Abdul Razak is under fire for its significant debt levels, part of which are government-guaranteed.

In a statement, its director Lodin Wok Kamaruddin said that the only funding it received from the Finance Ministry was at its time of inception in the form of equity worth RM1 million.

The rest, he said, was secured through international fundraising exercises.

Read more here: http://www.malaysiakini.com/news/284291


1MDB: Our money's not from taxpayers
www.malaysiakini.com
So it's untrue to say 1MDB is wasting taxpayers' money, its director says.

About Malaysia

Check Also

#Updated The teacher went on to state that non-Muslim students could ask their t…

#Updated The te …

发表回复

您的电子邮箱地址不会被公开。 必填项已用 * 标注