The government is considering to convert RM2.4 billion in 1MDB bonds held by KWAP and TH to be converted into equity stakes in the Bandar Malaysia project. – The Malaysian Insight file pic, April 22, 2019.
THE Pakatan Harapan government is proposing that RM2.4 billion worth of 1Malaysia Development Bhd bonds held by the Retirement Fund Incorp and Tabung Haji be converted into equity stakes in the Bandar Malaysia project, reported The Edge. A source said the RM2.4 billion Islamic sukuk, which are held by the two institutions when they were issued in 2014 to raise funds for Bandar Malaysia, will be redeemed for RM3 billion under the proposed terms.
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looks like the PH govt is bailing out all the bad debts from BN.
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