Malaysiakini NEWS

Gov’t has guaranteed RM177.8b worth of GLCs' debts

Published:  |  Modified:

PARLIAMENT The government has guaranteed RM177.8 billion worth of debts of government-linked companies as at June 30, 2015.

However, a written reply given to Parliament does not name the GLCs, nor the nature of the debts.

The parliamentary reply was to a question from Ngeh Koo Ham (DAP-Beruas) and delivered during the final Dewan Rakyat session of 2015, which concluded this month.

In another written reply to Ngeh, the government stressed that it has not breached its self-imposed debt ceiling of 55 percent of the gross domestic product (GDP).

As at the end of the second quarter, the federal debt stood at RM627.5 billion, or 54 percent of the GDP.

Of that, only three percent, or RM18.8 billion, are offshore debts.

"The government's debt position remains in order and can be categorised as moderate," the written reply says.

Top government bond holders are the Employees’ Provident Fund (RM127.6 billion), the Retirement Fund Incorporated (Kwap) at RM20.3 billion and banks at RM148.8 billion.

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