Malaysia's 1MDB repays US$975 million loan: statement
Posted by Trading Advisor on 8:24 PM with 1 comment
[KUALA LUMPUR] Malaysian state investment fund 1MDB has fully repaid a
US$975 million loan owed to a syndicate of international banks, it said
in a statement on Monday.
The move reflects the fund's move to reduce its debt levels, in line
with a rationalisation plan approved by the cabinet, it said in the
statement.
1MDB, which owns property and energy assets and whose advisory board
is chaired by Malaysian Prime Minister Najib Razak, has been dogged by
controversy over its nearly 42 billion ringgit (S$15 billion) of debts
and alleged financial mismanagement.
Malaysia's central bank said on June 3 it had launched a formal
enquiry into 1MDB and issued a legal directive for information, seeking
to establish whether there had been any violation of its rules.
Categories: Kuala Lumpur, Malaysia
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