1MDB did not receive RM42b from government, says book

(Bernama) – 1Malaysia Development Bhd (1MDB) did not receive RM42 billion from the government.

According to the “1MDB: Siapa Kata Tidak Dijawab” book, on the contrary, the RM42 billion fund’s debts were in the form of bank loans, bonds and sukuk.

1MDB had only received RM1 million in equity in 2009 and a short-term loan of RM950 million in March 2015 in the form of available credit.

“1MDB is not funded by local and international capital and invested by using its own capital,” according to the book published by the Special Affairs Department (JASA) of the Communications and Multimedia Ministry.

The book also explains that of the RM42 billion fund’s debts RM18 billion was used to purchase an independent power producer company, RM15.4 billion for investment funds, RM5.8 billion for financial costs, RM1.7 billion for the land purchasing cost and RM900 million in cash.

The 62-page book comprises a collection of answers about 1MDB that had been given by Prime Minister Datuk Seri Najib Tun Razak, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, 1MDB President and Group Executive Director Arul Kanda Kandasamy.

It provides answers to 32 questions about 1MDB which were presented in simple and straightforward explanations as well as infographic.

The book among others, answered questions about whether the joint-venture inivestment with Petrosaudi is a scam? is it true 1MDB really had to borrow RM2 billion from Ananda Krishnan to pay the interest? why did the government sell the 70-acre land to 1MDB at such a low price?

Is it true the 1MDB funds went into Najib’s personal accounts? 1MDB’s rationalisation plan? is it true that the police had interfered with, the MACC’s (the Malaysian-Anti Corruption Comission) investigation on 1MDB?