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1MDB repays RM2 billion loan after Ananda Krishnan bailout: report

Friday, February 13, 2015 - 08:51
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Malaysia's debt-laden state fund 1Malaysia Development Bhd (1MDB) settled a RM2 billion loan on Thursday with money from billionaire T. Ananda Krishnan (pictured), six days before bankers triggered a default, the Malaysian Insider reported on Friday morning, quoting bankers familiar with the matter.

[SINGAPORE] Malaysia's debt-laden state fund 1Malaysia Development Bhd (1MDB) settled a RM2 billion loan (S$753.5 million) on Thursday with money from billionaire T. Ananda Krishnan, six days before bankers triggered a default, the Malaysian Insider reported on Friday morning, quoting bankers familiar with the matter.

The newspaper reported on its website that that the banks involved received the money on Thursday evening, hours after Ananda, Malaysia's second-richest man, was said to have agreed to the bailout.

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