1MDB plans to repay RM6b of debt soon
New York
THE Malaysian state investment company at the centre of multiple financial probes said it will repay RM6 billion (S$2.1 billion) in coming weeks as asset sales give it room to pare down debt.
1Malaysia Development Bhd (1MDB) won't have any more short-term debt and bank loans after the repayments, president Arul Kanda said in an interview on Wednesday at the fund's headquarters in Kuala Lumpur. It will have a cash surplus of at least RM2.3 billion after settling the debt, he added.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
‘To the Future’: Saudi Arabia spends big to become an AI superpower
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
Overcrowded Venice introduces first payment charge for tourists
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do