Subscribe to our Telegram channel for the latest updates on news you need to know.
KUALA LUMPUR, Aug 11 — Tun Dr Mahathir Mohamad has revealed that the amount owed to the National Higher Education Fund (PTPTN) from its defaulters is almost the same as 1Malaysia Development Bhd’s (1MDB) total debts.
The Malaysian Insight quoted the prime minister as saying that in total, defaulters owe PTPTN RM39 billion in outstanding loan repayments.
The 93-year-old prime minister, who was speaking to a gathering of students at the Malaysian Student Leaders Summit X11 today, reportedly said the sum was “almost the same” as what is owed by the controversial 1MDB.
However, Dr Mahathir did not disclose the exact amount of 1MDB’s debts.
The Auditor-General’s report on 1MDB estimated that the state investment vehicle needs an estimated RM42 billion to settle the principal and interest on its loans.