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Lately, there have been calls from certain quarters in parliament for the government to list the national oil company, Petroliam Nasional Bhd (Petronas), on Bursa Malaysia one of the reasons being that the proceeds from the listing could be used to pay off government debt. Majlis Tindakan Ekonomi Melayu Bersatu (MTEM) is absolutely against this idea. Not only is the objective a bad “business” decision but the listing of Petronas goes entirely against the interests of the nation, especially us, the citizens and taxpayers of Malaysia.
KUALA LUMPUR: The police say they have been instructed by the Attorney General’s Chambers (AGC) to get a number of documents and witness statements from overseas to complete the investigation into Datuk Dr Tawfiq Ayman.
KUALA LUMPUR (May 12): The US Department of Justice (DoJ) has remitted some RM1.9 billion or US$452.36 million in funds related to 1Malaysian Development Bhd (1MDB) into Malaysia’s Asset Recovery Trust Account.
In a statement, the Ministry of Finance (MoF) said so far, the account had received RM16.05 billion of seized and repatriated 1MDB funds. The ministry added that any balance in the trust account, which is under the custody of the Accountant-General s Department of Malaysia, will be used to primarily repay and service 1MDB and its former subsidiary SRC International Sdn Bhd’s remaining debts.
To date, the government has repaid RM12.4 billion of 1MDB’s debt and RM3.1 billion of SRC’s debt. The outstanding debt balance which is composed of principal and coupon, profit and interest of bonds, sukuk and term loans stands at RM39.8 billion for 1MDB and RM2.57 billion for SRC.