KUALA LUMPUR, Nov 6 — Malaysia is almost done paying for 1Malaysia Development Berhad’s (1MDB) debts, Deputy Finance Minister I Datuk Seri Ahmad Maslan said today.
He told Parliament that the 1MDB debt still outstanding as at September 30, 2023 was down to RM5.15 billion.
“(Malaysia) is expecting US$1 billion or RM4.65 billion from International Petroleum Investment Company (IPIC) in 2024 and the overall balance of the trust account amounting to RM9.85 billion, that is sufficient to cover the payment of the remaining 1MDB debt commitment amounting to RM5 billion.
“Therefore, I think this 1MDB problem is almost solved,” Ahmad told the Dewan Rakyat during his winding-up speech on the Supply Bill 2024 for the debate at committee stage.
He added that in 2024, the government will only need to make an interest payment of RM287 million.
“The last principal payment is due in 2039, and that is RM5 billion,” he added.
In March, the government had paid 1MDB’s totalling RM43.8 billion, leaving a balance of RM9.7 billion involving a principal of RM5 billion and RM4.7 billion in interest.
