Finance Ministry says Tabung Harapan fully used on 1MDB debt

Finance Minister Lim Guan Eng said the RM61.7 million used on November 28 to subsidise interest payments for the state investment firm’s Islamic bonds effectively exhausted the fund. — Picture by Sayuti Zainudin
Finance Minister Lim Guan Eng said the RM61.7 million used on November 28 to subsidise interest payments for the state investment firm’s Islamic bonds effectively exhausted the fund. — Picture by Sayuti Zainudin

KUALA LUMPUR, Nov 30 — Putrajaya has completely used the RM205.5 million accumulated in the Tabung Harapan Malaysia to offset the debts and obligations of 1MDB.

Finance Minister Lim Guan Eng said the RM61.7 million used on November 28 to fund interest payments for the state investment firm’s Islamic bonds effectively exhausted the fund accumulated via public donations and interest.

The ministry previously used portions of the fund to offset earlier interest payments, pay off bounced cheques, and refund misplaced contributions.

Lim expressed the government’s thanks to all who had contributed to the crowdfund that was closed in January.

He went on to say that 1MDB still owed RM50.5 billion inclusive of interest payments, and was only expected to fully repay this in 2039.

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