KUALA LUMPUR (Oct 15): A total of RM27.17 billion linked to 1Malaysia Development Bhd (1MDB) has been recovered and placed in the Assets Recovery Trust Account as of the end of September, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.
The funds have been used to repay 1MDB’s debt and cover other expenses permitted under the trust account directive, he noted.
"Currently, the trust account has an outstanding balance of RM3.04 billion. The government will continue its efforts to recover all misappropriated assets related to 1MDB in order to pay off the remaining 1MDB debt according to the stipulated timeline," Amir told the Dewan Rakyat on Tuesday, during the winding-up session for the debate on the Auditor General’s Report.
As Amir was unwell, his speech was read on his behalf by Youth and Sports Minister Hannah Yeoh.
According to the Auditor General’s Report released on Monday, the federal government has provided a total of RM39.74 billion in guarantees to repay 1MDB’s debts between 2019 and 2023.
These grants, channelled over the five-year period, were used for principal repayments (RM29.62 billion), and other expenses, including bond interest and coupon payments (RM10.11 billion).
Additionally, the federal government will need to allocate another RM9.46 billion to repay the remaining 1MDB debt. This includes RM5 billion in principal and RM4.46 billion in coupon payments for the Sukuk Islamic Medium Term Notes (IMTN), which will mature on May 27, 2039.
To this, Amir said that the RM5 billion IMTN was approved by the Cabinet in 2009, with an annual interest rate of 5.75% over 30 years.
"As of the end of September, the government has paid a total of RM4.31 billion in coupon payments," he noted.
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