1MDB chief: All RM42bil accounted for

(The Star) – All RM42 billion of 1Malaysia Development Berhad’s (1MDB) debts are accounted for, says 1MDB’s president and group executive director Arul Kanda.

“In recent weeks, there has been much speculation about the use of RM42 billion of debt raised by 1MDB, and more specifically that RM27 billion of debt proceeds are alleged to be ‘lost’ or ‘missing’,” he said in a statement on Wednesday evening.

1MDB provided a summary of what the RM42 billion debt has been used for, using information that was fully disclosed in the government investment arm’s audited and publicly available accounts from March 31, 2010 to March 31, 2014.

“We trust this clarification will help to clear any confusion on this matter,” Arul added.