KUALA LUMPUR, Oct 4 — Malaysia could fork out an extra RM8.5 billion for the 1MDB principal debt with the ringgit continuing to devalue against the US dollar, DAP chairman Lim...
KUALA LUMPUR, Oct 4 — Malaysia could fork out an extra RM8.5 billion for the 1MDB principal debt with the ringgit continuing to devalue against the US dollar, DAP chairman Lim Guan Eng cautioned today.
“Assessing the cost alone of the 1MDB US US$6.5 billion bonds arranged by Goldman Sachs in 2012 and 2013, the government will have to pay an extra RM8.5 billion to repay the principal,” he said in a statement in response to Minister in the Prime Minister’s Department Datuk Seri Mustapa Mohamed’s remarks in Parliament yesterday.
The former finance minister said that at the current exchange rate of RM4.65 to the US dollar, the principal due for the US$6.5 billion would now be higher at RM30.23 billion — or an extra RM8.5 billion. “A weaker ringgit this year means that the annual interest cost is around RM1.5 billion instead of RM1 billion,” the Bagan MP added.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hao Sheng, Zenn Lim come out tops in KL openThe Perlis native ace defeated Indonesia’s Rifqy Sukma Ramadhan 6-4, 6-0 in the KL Open final, which also doubles up as the National Circuit (third leg), taking home RM8,000. theSun theSundaily Tennis KLOpen2022 Malaysia Victory sports
Read more »
Budget 2023: MMEA hopes for new assets, more personnelKUALA LUMPUR: The Malaysian Maritime Enforcement Agency (MMEA) is hoping for the procurement of more assets and an increase in personnel under Budget 2023, to be tabled this Friday (Oct 7).
Read more »
Amid rampant job scams, DAP MP urges Putrajaya to freeze recruitment of Malaysian workers to CambodiaKUALA LUMPUR, Oct 3 — Bukit Mertajam MP Steven Sim Chee Keong has urged the government to stop the recruitment of Malaysian workers to Cambodia until the issue of job scams...
Read more »
Third parliamentary meeting begins today, all eyes on Budget 2023, generational endgame anti-smoking BillKUALA LUMPUR, Oct 3 — The third Parliament sitting of the year begins this morning, with Malaysians left guessing on whether Prime Minister Datuk Seri Ismail Sabri Yaakob will be...
Read more »
Umno never removed agenda of ummah unification, says ZahidKUALA LUMPUR, Oct 2 — Umno never erased the agenda of ummah unification, including the party’s political cooperation with PAS, which is the basis of the country’s...
Read more »