29 Jun '15, 10pm

A new RM17.8 bil twist in 1MDB ‘guarantee’ - P Gunasegaram (KiniBiz)

P. GUNASEGARAM KiniBiz JUNE 29, 2015 TIGERTALK Tony Pua and 1Malaysia Development Bhd (1MDB) are in dispute over whether there’s a government guarantee or not over US$4.71 bil (RM17.8 bil) IPIC loans to the latter. But taking off the semantics and just maintaining the meaning shows Pua is clearly right. Latest developments at self-styled strategic development company 1MDB indicates yet again that it is not fully forthcoming on the problems that are affecting it, in this case a loan and guarantee arrangement between 1MDB and Abu Dhabi’s International Petroleum Investment Company (IPIC) and its subsidiary Aabar Investments PJS involving US$4.5 billion (RM17 billion). MP Tony Pua first highlighted this referring to a London Stock Exchange (LSE) statement by IPIC on changes to its debt settlement arrangements with IPIC. Presumably, since IPIC is an international borrower whose...

Full article: http://blog.limkitsiang.com/2015/06/30/a-new-rm17-8-bil-t...

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