KUALA LUMPUR: The doomed joint venture (JV) between 1Malaysia Development Bhd (1MDB) and PetroSaudi International Ltd (PSI) incurred a US$700mil (RM2.93bil) debt, the High Court heard.
The debt was inherited by the JV company 1MDB-PetroSaudi Ltd (1MDB-PSI), which was formed when the JV was signed, while it was fully owned by PSI.
Already a subscriber? Log in.
Get 30% off with our ads free Premium Plan!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
