Kuala Lumpur: 1Malaysia Development Bhd it (1MDB) today, "1MDB Story," and "1MDB additional investment" in the title of your blog entries to the former Prime Minister Tun Dr Mahathir Mohammad by exposing various claims.
Among others, Terengganu Investment Authority (TIA) were money issues, the purchase of land and well PetroSaudi RM2 billion joint venture with billionaire, said to be borrowed from Ananda Krishnan.
"TIA was no attempt to hijack the money," 1MDB said in a statement Tuesday.
said.
Finally, the federal government's contribution May 29, 2009, in which TIA, by issuing a guarantee of RM5 billion Sukuk, TIA before being federalised.
"Then, Terengganu state government entity being federalised in July 2009, which decided to withdraw from TIA," he said.
"Furthermore claims, the government guarantee 'off budget' is not. It's 100 per cent 1MDB is ultimately the federal government has a clear responsibility and be recognized," he said.
1MDB RM2 billion as of course was arranged to borrow the domestic loan provided by a syndicate.
"Tun Mahathir claimed by the interest to pay as it was not used," he said.
Management, the Powertek Investment Holdings (PIH), a subsidiary of 1MDB, said.
PIH PIH Tanjong caused by the return of any money or prepaid revenue will be used solely for the occurrence of certain events ... for up to RM2 billion, PIH to subscribe to equity agreed to a subscription agreement under which Tanjong had RHB Investment Bank Bhd and Maybank Investment Bank Bhd's RM5.5 billion loan facility arranged by.
From above, it's RM2 billion of equity in Tanjong PIH was an obligation for membership is a clear fact, the loan facility will be used for repayment of the income, 1MDB said.
However, due to confidentiality agreements, the RM2 billion equity investment to be a RM2 billion loan was agreed by the parties can not explain why, he said, she said.
The sales of RM320 million 1MDB 70 acres of land on Jalan Tun Razak that the claims at least RM3,000 to 4,000 PSF RM should pay RM7,000- PSF and sold 1MDB Earth was close by, 1MDB ,, RM320 million to RM230 million this land was not paid.
part. "
1MDB in a joint venture with "PetroSaudi did not pay a cent" to blame, it's about US $ 2.7 billion Turkmenistan and oil reserves in Argentina, a subsidiary of the rights, assets, through ownership, PetroSaudi said.
These assets at the time of the asset sale, 1MDB for the purposes of a proposed joint venture set up by a company owned by PetroSaudi and 100 per cent, which was initially a subsidiary, "joint enterprise" by the PetroSaudi were sold.
US $ 2.7 billion in return for the transfer of assets, the joint venture company had to pay PetroSaudi US $ 700 million. The debt resulting from the asset transfer. Accordingly, no loans or "to resolve" was not.
September 29, 2009, 1MDB PetroSaudi executed a joint venture agreement.
On completion of an independent evaluation, 1MDB joint venture company owned 40 per cent return for contributions of US $ 1 billion of cash, and 60 percent in the joint venture company with PetroSaudi was left.
PetroSaudi freely partnership was worth $ 2.7 billion in assets Indeed, 1MDB contributions in cash was, 1MDB said.
1MDB, according to 1MDB 1 billion, US $ 700 million to the joint venture company for the initial transfer of assets that will be used to pay PetroSaudi, was part of a $ 300 million joint venture deal in common venture company will be.
Upon satisfaction with the assessment, according to the Joint Venture Agreement, 1MDB PetroSaudi a subsidiary to pay US $ 700 million, and independently valued joint venture company with assets worth, a 40 per cent share of the company at US $ 2.7 billion to acquire legal title.
Accordingly, PetroSaudi 1MDB US $ 700 million paid by PetroSaudi full rights and at its discretion, was to use these funds, it added.
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