Despite the various allegations thrown by the opposition, 1Malaysia Development Board (1MDB) is continuing the development of its two mega projects – the Tun Razak Exchange (TRX) and Bandar Malaysia, reported Bernama.
“This is what I want to portray. 1MDB is not bankrupt and is still capable of repaying its debt, while developing its available assets. This is an undeniable fact,” said 1MDB CEO Arul Kanda Kandasamy in the programme, Diskusi 1Minda 1Bicara 1MDB.
According to him, 1MDB’s current assets is valued at RM43 billion, which is higher than its current debts of RM31 billion.
“The majority of the assets represents real estate, which amounts to more than is needed to repay the company’s debts.”
Aside from this, the community can also evaluate for themselves the attention the TRX is getting from local and foreign investors as well as the ongoing development around the project to date, he said.
“We have been able to attract investors to the TRX, including HSBC Bank Malaysia Bhd, which is building its biggest headquarters in Southeast Asia, as well as Prudential, Affin Bank Bhd and Lembaga Tabung Haji.”
Arul revealed that 1MDB is also investing RM3 billion for infrastructure development around the TRX like a new market. A new road will also be built to directly connect it to key highways, such as the SMART Tunnel, the DUKE and Maju Expressway.
Arul explained that while the opposition had sought to blame Prime Minister Najib Razak – who was served as the previous chairman of the 1MDB board of advisers – for everything that has happened in the company, the reality is that such position had no powers under Companies Act and the law.
Image sourced from TRX.my
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