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1MDB reveals all on 'missing' billions
Published:  Jun 3, 2015 9:57 AM
Updated: Jun 9, 2015 9:43 AM

Embattled firm 1MDB has listed out where its RM41.8 billion loans were spent following claims that some of the money was unaccounted for.

This follows former premier Dr Mahathir Mohamad's claim that RM27 billion of the company's money, obtained from loans, could not be traced.

"In recent weeks, there has been much speculation about the use of the RM42 billion of debt raised by 1MDB, and more specifically the RM 27 billion alleged to be 'lost' or 'missing'

"We provide a summary of what the RM42 billion has been used for, information that is fully disclosed in 1MDB's audited and publicly available accounts from March 31, 2010 to  March 31, 2014.

"We trust this clarification will help to clear any confusion on this matter," said 1MDB president and group executive director Arul Kanda in a statement today.

In a graphical presentation emailed to the media, he listed out where the RM41.8 billion went to, including a RM900 million cash surplus held by the company.

The spending is as below:

RM18 billion for purchasing independent power producers

Breakdown

- RM8.5 billion for Powertek

- RM2.3 billion for KLPP

- RM1.2 billion for Jimah

- RM6 billion inherited debt

RM1.7 billion for purchasing land

Breakdown

- RM0.2 billion for Tun Razak Exchange

- RM0.4 billion for Bandar Malaysia

- RM1.1 billion for Penang land

RM5.8 billion for financial expenditure

Breakdown

- RM4.5 billion for cost of finance and working capital

- RM0.9 billion for foreign exchange cost

- RM0.4 billion for taxes

RM16.4 billion for investments funds

Breakdown

- RM6.1 billion in Brazen Sky

- RM4.2 billion in Aabar Deposit

- RM5.1 billion in GIL Funds

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