1MDB's unit secures RM2b in govt loan
Little is known about the subsidiary and how it has used the funds
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Anita Gabriel
[SINGAPORE] A little-known, wholly-owned unit of Malaysia's state-owned 1Malaysia Development Berhad (1MDB), tasked to acquire and manage resources such as coal and uranium for the country, had received a RM2 billion loan from the Malaysian government in 2011.
The 10-year loan was provided to SRC International Sdn Bhd (SRC) and was drawn down in two tranches of RM1 billion each in 2011, according to documents obtained by The Business Times.
This information, not known to many, has surfaced even as the state-backed fund is rushing to file its already-late financial accounts.
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