BN chief backbencher foresees ‘happy ending’ for 1MDB


(Malay Mail Online) – State-owned 1Malaysia Development Berhad (1MDB) will have a “happy ending” with at least RM10 billion worth of assets after settling its RM42 billion debt pile, Barisan Nasional Backbenchers Club (BNBBC) chairman Tan Sri Shahrir Samad predicted today.

The Johor Baru MP said he is convinced that 1MDB will prevail over the intense scrutiny, based on his personal communication with its president Arul Kanda Kandasamy over the controversies plaguing the company.

“Like all things in life, we look at the end game. Whether it is a happy ending or a bad ending. I’m thoroughly convinced that 1MDB will have a happy ending, from my interactions with Arul and what i know of 1MDB as a BNBBC chief.

“As you see, even after disposing the debts, 1MDB will still have residual assets between RM10 to RM12 billion.Thats their modal structure. Its a debt based investment. So the yardstick should be the assets they have,” he told reporters after attending a public forum on 1MDB here.

The forum had Arul Kanda explaining the 1MDB issue to mostly Umno members. The event was also organised by the party.