KL extends RM970m loan to 1MDB
Funds believed to be disbursed following a cabinet meeting a fortnight ago
Add BT as a preferred source
Singapore
AMID allegations of improprieties levelled against 1Malaysia Development Bhd (1MDB) over its business dealings, which have triggered a high-level probe into its books, the Malaysian government has extended a nearly RM1 billion (S$373 million) loan to the debt-ridden firm.
The Business Times understands that the loan was provided by the Ministry of Finance, 1MDB's shareholder, to deal with the firm's cash flow woes as it is saddled with huge interest payments.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Singapore at 61: How we can ensure opportunity, security and ownership for the next generation
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
