Good morning. Here's what you need to know today.

Key Highlights

  • Paying 1MDB debts with your tax money

  • Govt backs Azam

  • Dr M is back in action





Paying 1MDB debts with your tax money

The question of repaying 1MDB's debts is back in the spotlight.

On Wednesday, former prime minister Najib Abdul Razak - who was responsible for the fund's establishment, fugitive financier Jho Low's involvement in it and allegedly benefited from siphoned monies - claimed the government was not using public funds to pay off the principal of 1MDB's debts.

Therefore, Najib said, the government should stop blaming 1MDB for the country's current financial state.

Finance Minister Tengku Zafrul Abdul Aziz corrected Najib yesterday, saying that the principal hasn't been paid as it hasn't matured yet.

Zafrul said the interest on 1MDB's debts are being serviced - and that stolen funds, which have been recovered, are only enough to cover repayments for this year.

Two of the bonds amounting to about RM14.5 billion will mature this year, which will require the government to repay the full sum.

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

As of Dec 31 last year, Malaysia has paid RM13.3 billion of 1MDB's debt with RM38.81 billion still outstanding.

Previously, public donations to Tabung Harapan had also been used to service 1MDB's debts.

HIGHLIGHTS

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Najib moots paying 1MDB loans early to avoid interest cost

Court dismisses application by Najib, Irwan for DNAA




Govt backs Azam

Azam Baki is here to stay as MACC chief.

De facto Law Minister Wan Junaidi Tuanku Jaafar said there was no need to replace Azam over his shareholdings scandal.

This is because the Securities Commission and police have not found any conclusive evidence of wrongdoing, Wan Junaidi said.

Azam is also unlikely to be facing any personal scrutiny from Parliament anytime soon.

There is no sign that the Parliament Select Committee looking into his case will summon him again after he turned down their first attempt.

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Fahmi wants MACC to probe DNB-Ericsson deal

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Dr M is back in action

Pejuang chairperson Dr Mahathir Mohamad is back in action, campaigning in Johor just under a month since he was discharged from the hospital.

Doctors had warned the 97-year-old that going to the ground was risky behaviour due to the current wave of Covid-19 infections.

However, Mahathir is not content with just writing open letters.

His first speech on the campaign trail, however, predictably took aim at his arch-nemesis Najib and the latter's claims about 1MDB's debts.

HIGHLIGHTS

In Machap, Muda's idealism meets entrenched racial, patronage politics

PN candidate wades in as flash floods devastate Johor community garden

Harapan's MB candidate is not a priority - Johor PKR chief




What else is happening?

  • Penang Deputy Chief Minister II P Ramasamy is being investigated by police, allegedly for saying that single mother Loh Siew Hong's children had been kidnapped prior to her regaining custody.

  • The Terengganu state government denied that wood debris piled up at Tasik Kenyir was due to logging, blaming this instead on heavy rain.

  • The Drug Control Authority approved the use of the Sinovac vaccine for children aged five years and above. It also approved the use of Pfizer's Covid-19 pill to treat high-risk patients.

HIGHLIGHTS

Race politics: Not expecting overnight change - Muda veep

22 out of 45 deaths of Covid-19 jab recipients not linked to vaccine

Perak unable to supply raw water to other states




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