16
May
16

Citizens will bear RM2.4b debt from Bandar M’sia sukuk, Rafizi warns

Citizens will bear RM2.4b debt from Bandar M’sia sukuk, Rafizi warns

Pandan MP and PKR vice-president Rafizi Ramli today warned that Bandar Malaysia Sdn Bhd now has debts amounting to RM2.4 billion through the issuance of sukuk subscribed by Tabung Haji, and this would eventually be borne by the people.

He referred to the announcement yesterday that the Minister of Finance Incorporated (MOF Inc) has agreed to fully implement the various recommendations contained in the Public Accounts Committee (PAC) report on 1MBD.

Among the PAC’s recommendations were the transfer of ownership of Bandar Malaysia, TRX City Sdn Bhd, Air Itam lands and Pulau Indah land to MOF Inc.

Hence when Bandar Malaysia is transferred to MOF Inc, all its liabilities and responsibilities held by Bandar Malaysia will also be transferred, Rafizi said in a statement.

“This means that the RM2.4 billion debt from the issuance of sukuk is also transferred to the Malaysian government which is now responsible on the transfer and upgrade of the Sungai Besi Air Force base and eight other places.

“The government will be burdened by the RM2.4 billion in the face of cuts in various allocations following the present federal government’s financial position. I have warned that it would be the public money which would be used to pay the debts by 1MDB and its subsidiaries,” he added.

Rafizi also alleged that the same method was employed to transfer the RM4 billion debt from 1MDB’s subsidiary SRC International Sdn Bhd to MOF Inc.

…more
Citizens will bear RM2.4b debt from Bandar M’sia sukuk, Rafizi warns
5 May 2016 – malaysiakini

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