Minister: Tabung Harapan funds to repay portion of 1MDB’s debt

Lim Guan Eng said Tabung Harapan Malaysia’s entire funds amounting to RM203.29 million will be used to settle a portion of 1MDB’s 2019 debt amounting to RM1.7 billion. — Picture by Miera Zulyana
Lim Guan Eng said Tabung Harapan Malaysia’s entire funds amounting to RM203.29 million will be used to settle a portion of 1MDB’s 2019 debt amounting to RM1.7 billion. — Picture by Miera Zulyana

PUTRAJAYA, May 16 — Tabung Harapan Malaysia’s (THM) entire funds amounting to RM203.29 million will be used to settle a portion of 1Malaysia Development Bhd’s (1MDB) 2019 debt amounting to RM1.7 billion, Finance Minister Lim Guan Eng said.

In a statement today, Lim said this was decided at the THM trust accounts committee meeting on April 24.

He said the exact amount of  the fund stood at RM202,716,775.10 as of January 14, 2019, the closing date for contributions and furthermore, interest received from fixed deposit investments amounted to RM575,342.31 up to March 31

“While the THM funds may not be able to repay 1MDB’s entire debt of RM51 billion, the fund will remain a symbol of Malaysians’ loyalty and patriotism, when it comes to repaying the country’s debt,” he said. — Bernama

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