1MDB debt collectors come knocking

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Key Highlights

• 1MDB debt collectors come knocking
  
  

• Authorities summon Azam Baki
  
  

• Climate action
  
  

1MDB debt collectors come knocking

The time has come for Malaysian taxpayers to pay the dues for the billions of ringgit 1MDB took out in loans that were substantially misappropriated.

Two of the bonds amounting to about RM14.5 billion will mature this year, which will require the government to repay the full sum. The first will mature in May and the other will mature in October.

The Finance Ministry said the misappropriated funds, which it has seized and recovered from multiple jurisdictions totalling RM19.1 billion, are only enough to cover the repayments for this year.

A third bond totalling RM12.46 billion will mature in March 2023 and if the government can't recover more of the misappropriated sums, the repayment will have to come out of the country's budget.

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Authorities summon Azam Baki

At least two investigating authorities are looking into MACC chief commissioner Azam Baki.

Parliament Select Committee (PSC) on the Agencies under the Prime Minister’s Department ordered Azam to appear before the panel on Jan 19.

This is over his share ownership in two public-listed companies, peaking at a value of around RM700,000 in 2015, which had raised questions on whether it commensurates with his income and conflict of interest concerns.

Meanwhile, the Securities Commission is also set to summon Azam's brother Nasir Baki for an interview.

This was after Azam claimed the shares weren't his and were bought in his name by his brother.

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Climate action

Deputy Yang di-Pertuan Agong Sultan Nazrin Shah, who is also the Perak ruler, called on the country to take bold action to address the underlying causes behind environmental disasters.

His call comes amid a series of flash floods, landslides and a tiger attack in Gua Musang where logging is ongoing.

Meanwhile, the government is mulling to use satellite technology to improve communication in disaster management.

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A daily glance at Covid-19

• 3,684 new cases yesterday (Jan 13), the highest in two weeks.
  
  
• 12 new fatalities put the death toll at 31,750.

New cases by states

Selangor (1,083)
Johor (456)
Kuala Lumpur (309)
Kelantan (279)
Sabah (257)
Pahang (253)
Malacca (245)
Kedah (185)
Penang (164)
Negeri Sembilan (158)
Perak (153)
Terengganu (75)
Putrajaya (23)
Sarawak (18)
Labuan (18)
Perlis (8)

What else is happening?

• Youth and Sports Minister Ahmad Faizal Azumu came under criticism for creating a new budget item for "cooked food service supply" contract totalling RM42.5 million while dropping over 100 athletes and cutting the allowances of others, citing budgetary constraints and the need to save RM40 million.
  
  
• Transport Minister Wee Ka Siong announced that the East Coast Rail Link (ECRL) alignment has been finalised. The final alignment reverts to the BN-era arrangement which runs through the northern Klang Valley. The previous Pakatan Harapan government realigned it to the south but this was reverted by Wee.
  
  
• Police confirmed that a man had died while in custody at the Taiping district police headquarters. An investigation is ongoing.
  
  
  

HIGHLIGHTS

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What are people saying?

	M’sians are crying out for credible leadership By Ranjit Singh Malhi
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