FINANCE Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz has refuted former prime minister Datuk Seri Najib Razak’s earlier claims that not a single sen of public funds was used by the Government to repay the principal amount of 1Malaysia Development Bhd (1MDB) debts.
Malaysia has yet to repay the principal amount of the debt but the country is paying the interest of the debts, he told the Dewan Rakyat today (March 3).
“The accusation that we have not repaid the principal amount is baseless since the principal amount is not yet mature,” Zafrul explained during Question Time.
Zafrul explained that the Federal Government will begin servicing the principal debt once some of the bonds issued by the sovereign fund and its subsidiaries mature by May this year.
The debt servicing will continue to be paid until 2039.
He was responding to Lim Guan Eng who earlier asked if it was true that not a sen had been paid on the 1MDB debts.
Zafrul also told his predecessor, that as of the end of this month, the remaining commitment stands between RM38.5 bil and RM38.8 bil, with RM32.3 bil principal and RM6.5 bil interest.
Najib, in making the claim yesterday alleged that public funds were not used because various entities, including Goldman Sachs, audit firms KPMG and Deloitte, Ambank and the US Department of Justice (DOJ), had returned 1MDB funds totalling RM23 bil to Malaysia.
“Apologise for your baseless claims”
Lim, in rebutting the Pekan MP’s remarks, also described them as “baseless” and “a fantasy”.
“As a former Finance Minister, I know that this is not true for Najib to claim that 1MDB debt had damaged the country’s finances when Goldman Sachs, audit firms KPMG and Deloitte, Ambank and the DOJ had returned 1MDB funds totalling RM23 bil to Malaysia,” the DAP secretary-general said in a statement.
“Najib did not admit that these funds were returned to Malaysia in the form of penalties for defrauding 1MDB monies with Goldman Sachs paying back US$3.9 bil for their nefarious role and wrongdoing in their issuance of a US$6.5 bil bond for 1MDB, which was misappropriated.
“Clearly all these payments are insufficient to pay back the total amount of principal and interest for 1MDB debts amounting RM52 bil of which the principal amount is RM32 bil.”
Lim went on to point out that it was now the former premier’s word against that of a former finance minister as well as the current finance minister.
“Does Najib’s fantasy reject his conviction in December last year when the Court of Appeal upheld a conviction against him with a 12-years in jail sentence and RM 210 mil in fines over corruption and money laundering linked to funds misappropriated from a 1MDB unit?”
“Najib needs to apologise and retract his false and baseless claims in Parliament.” – March 3, 2022
