1MDB pays back RM2b loan owed to Malaysian banks
Repayment expected to ease pressure on ringgit and country's credit outlook
Kuala Lumpur
MALAYSIAN state fund 1Malaysia Development Bhd (1MDB) has settled in full a RM2 billion (S$753 million) loan that it owed local banks, its executive director Arul Kanda said on Friday.
"The loan was settled in advance of the due date, per the terms of the loan facility agreement," Mr Kanda said in a statement emailed to Reuters.
The loan repayment should ease pressure on the ringgit a…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China 2024 growth outlook raised to 4.8%, deflation risk lingers
Luxury sector outlook clouded by China’s slow recovery
TikTok CEO expects to defeat US restrictions: ‘We aren’t going anywhere’
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle
UAE announces US$544 million for rain repairs, says lessons 'learned'