1MDB bond default: high-stakes damage not ruled out
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
BONDHOLDERS and bankers were scrambling to assess the fallout of a bond default triggered after scandal-ridden 1MDB failed to meet a coupon payment of US$50 million on its US$1.75 billion notes even as the development fund sought to assure investors it has the capacity to meet all other financial obligations and that cross defaults are limited to two bond tranches.
Opposition lawmaker Tony Pua, however, highlighted the government could be forced to step in and bailout 1MDB to the tune of at least RM20 billion (S$6.9 billion).
Copyright SPH Media. All rights reserved.
TRENDING NOW
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Aiming at China, Malaysia puts new restrictions on electric cars
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
