11-26-2020, 10:33 AM
1MDB, SRC debts: With RM44.54b outstanding, here’s how much Putrajaya will have to pay in installments next year
KUALA LUMPUR, Nov 26 — Putrajaya has to repay RM3.272 billion in 2021 in loan installments and interest on debts, out of a combined outstanding amount of RM44.5 billion of government-guaranteed debts owed by 1Malaysia Development Berhad (1MDB) and its former subsidiary SRC International Sdn Bhd.
In a written parliamentary reply yesterday, the Finance Ministry said both 1MDB and SRC International faced a critical financial situation due to past scandals and misappropriation of funds, and that these two companies were no longer actively operating and are unable to fulfill the obligations of repaying debts that were either directly or indirectly guaranteed by the Malaysian government.
In such a situation, the ministry said the government would be paying off the next batch of installments owed by 1MDB and SRC International next year.
“For 1MDB, the total balance of 1MDB’s debt (principal and interest) on October 31, 2020 is RM40.87 billion, while the amount of 1MDB debt that has to be paid in 2021 is RM1.705 billion which involves interest/coupon payments for three bonds and one sukuk issued by 1MDB and its subsidiaries.
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