What Bossku? Scumbag more like it!

Share to help stimulate good governance, ensure future of people & M’sia

No News Is Bad News

 Facebook image

What Bossku? Scumbag more like it!

KUALA LUMPUR, Oct 14, 2024: Look what the disgraced and shameless former prime minister Najib “1MDB” Razak has got the country into!

The Government (meaning the rakyat or people) has to service the interest and principal sum of debts that 1Malaysia Development Berhad (1MDB) incurred while the jailbird Najib  was prime minister and bfinance minister.

And Malaysia is expected to continue settling the debts for at least 10 years!

And the corrupt Umno still wants its former president to be freed, treating him as some demi-political god! A party that supports the corrupt!

No News Is Bad News reproduces below a news report on what the Auditor-General is saying about 1MDB’s debts:

Malaysia

Grants worth RM39.74 billion used to repay debts related to 1MDB, says auditor general

The Auditor-General recommended the Federal Government to recover assets related to 1MDB and SRC International Sdn Bhd from both domestic and foreign parties.

Updated 54 minutes ago · Published on 14 Oct 2024 5:51PM

The grants were for principal repayment and other expenses - October 14, 2024

THE federal government channelled grants amounting to RM39.74 billion to 1MDB between 2019 and 2023.

The grants were for principal repayment and other expenses, including bond interest and coupon payments, according to the Auditor-General’s Report 3/2024 on the federal government’s financial statements for 2023.

“In addition to the repayment, the federal government needs to provide an allocation amounting to RM9.46 billion.

"This includes RM5 billion for the principal of Sukuk Islamic Medium Term Notes (IMTN), which mature on May 27, 2039 and RM4.46 billion for IMTN coupon payments for the period from 2024 to 2039,".

It added that the federal government would also have to pay the IMTN coupon of RM287.50 million per year.

Among the recommendations of the Auditor-General is for the Federal Government to recover assets related to 1MDB and SRC International Sdn Bhd from both domestic and foreign parties. - October 14, 2024