1MDB plans to repay RM6b of debt soon

New York

THE Malaysian state investment company at the centre of multiple financial probes said it will repay RM6 billion (S$2.1 billion) in coming weeks as asset sales give it room to pare down debt.

1Malaysia Development Bhd (1MDB) won't have any more short-term debt and bank loans after the repayments, president Arul Kanda said in an interview on Wednesday at the fund's headquarters in Kuala Lumpur. It will have a cash surplus of at least RM2.3 billion after settling the debt, he added.