KUALA LUMPUR: The Public Accounts Committee (PAC) has revealed that 1Malaysia Development Berhad (1MDB)’s debt stood at RM50bil as of January this year.
In a 106-page report tabled in Dewan Rakyat on Thursday, it said the debts were incurred due to among others, its over reliance on the refinancing exercise to pay off their matured debts by taking in new loans to pay off the interests of their previous loans.
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