UMNO leader flays 1MDB board for letting PM roast
Reezal (photo) blamed the board for failing to clarify issues that cropped up and pointed out that this has affected the current administration.
“The attempt to completely centre everything on PM is absurd, it seems they merely want to punish him,” said the Kepala Batas lawmaker.
As controversies and allegations continue to pile up, 1MDB has maintained silence while detractors lashed out at Najib.
It is believed that the firm has refused to break its silence pending the outcome of an audit, which was instructed by the prime minister.
Yesterday, Reezal called on 1MDB directors to break their “elegant silence”.
He was responding to a Singapore’s Business Times report that banks are demanding that 1MDB pay up US$975 million (RM3.52 billion) of its debts.
The loan from the consortium of six banks led by Deutsche Bank is only due in September but it seems the financial institutions have become jittery over 1MDB’s financial status.
The report said the banks had initially granted the loan after 1MDB offered US$1.103 billion as collateral through its unit Brazen Sky Limited in BSI Singapore. The collateral was part of the 1MDB funds previously deposited in the Cayman Islands.
However, the creditor banks now believe that the securitisation documents of the loan to be incomplete and can therefore demand immediate payment.
1MDB’s total liabilities amount to RM42 billion.