Why approve RM2.51 bil in guarantee-free loans to Genting HK? Anwar asks

[superadmin]

KUALA LUMPUR – Opposition leader Datuk Seri Anwar Ibrahim has taken Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz to task, demanding the latter explain why loans amounting to RM2.51 billion were granted to the now-insolvent Genting Hong Kong (HK).

The PKR president, in a statement, questioned the approval of such large loans from Malayan Banking Bhd, CIMB Group, and RHB Bank Bhd to the embattled Hong Kong-based firm, and why the loans were given without any binding guarantees.

Anwar demanded Tengku Zafrul to come forward to explain the discrepancies, especially considering how national assets like Permodalan Nasional Bhd, Khazanah Nasional Bhd, and the Employees’ Provident Fund happen to be the majority investors in the three banks.

“How were the loans, with no guarantees, given so easily to a gambling company?

“Even though the company is registered in Hong Kong, the owners are Malaysian businessmen who should have, at least, given a personal guarantee or from the reserves within companies owned by them in Malaysia.

“The finance minister is urged to explain how the RM2.51 billion in loans will be honoured by Genting HK, who are now insolvent,” Anwar said in the statement.

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