Pakatan Rakyat continues to put the spotlight on the debt-ridden 1Malaysia Development Bhd (1MDB).

This time around, DAP lawmaker Tony Pua revealed that the state-owned investment arm missed three deadlines to pay for RM317.3 million for land acquired from Tadmax Resources Sdn Bhd.

"The company now risks forfeiting the RM31.7 million it paid as deposit to Tadmax Resources," Pua said.

According to the Petaling Jaya Utara MP, this and 1MDB's rescheduling of its bank loans, amounting to RM5.5 billion, proved that the firm is "financially stretched".

Despite the government claiming that 1MDB is paying all of its RM42 billion debt on time, Pua said, 1MDB's latest financial statements show the company had to extend a syndicated bridging loan by six months in 2013 and refinanced the loan again when it was due in May 2014.

"The struggle 1MDB faces in repaying its loan as well as the price the company agreed to reschedule the loan certainly provides clear evidence that the company is facing financial difficulties in balancing its cash flow," he added.

Pua said that for the land deal, 1MDB had failed to meet payment deadlines in September and twice in October, after shifting the August initial deadline.

"Perhaps the only reason why Tadmax hasn't already forfeited the deposit is because 1MDB agreed to pay well above the market price for the piece of land at RM23.50 per square feet (psf) despite it being valued at only RM9.93psf in August 2011," he said.

"Tadmax Resources, infamous for its subsidiary Kuala Dimensi Sdn Bhd which was the main contractor in the PKFZ scandal, is probably still hoping for a bumper payday from 1MDB," he added.

Editor's Note: Tadmax's Board of Directors responded to Pua's claims in a letter to Malaysiakini on Dec 31, 2014. The letter can be read in full here .

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