KUALA LUMPUR: A former Finance Ministry deputy secretary-general told the High Court on Tuesday (Sept 27) the issuance of a government letter of support (LOS) to secure a US$3bil loan for the joint venture between 1Malaysia Development Berhad (1MDB) and Aabar Investment BVI Co was done in haste.
Describing the issuance of the LOS as 'a first of its kind’ and ‘was done in great speed’, Datuk Siti Zauyah Mohd Desa, 63, said in her 25 years’ experience in the ministry, that was the first time an LOS was issued by the ministry without conducting a due diligence for the project cash flow.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
