Subscribers

1MDB pays back RM2b loan owed to Malaysian banks

Repayment expected to ease pressure on ringgit and country's credit outlook

Kuala Lumpur

MALAYSIAN state fund 1Malaysia Development Bhd (1MDB) has settled in full a RM2 billion (S$753 million) loan that it owed local banks, its executive director Arul Kanda said on Friday.

"The loan was settled in advance of the due date, per the terms of the loan facility agreement," Mr Kanda said in a statement emailed to Reuters.

The loan repayment should ease pressure on the ringgit and Malaysia's credit outlook. The intensification of 1MDB's troubles has increasingly been cited as a factor...

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes