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Sovereign Wealth Funds Briefing - Categorized | Trends

Why keep 1MDB’s RM7bln in the Caymans?

Posted on 25 April 2013

What was revealed by PKR director of strategy Rafizi Ramli was alarming - the 1MDB had raised RM5 billion through government-guaranteed bonds for several investment ventures which were not clearly identified.According to Rafizi, 1MDB had raised the bonds for several investment ventures, for example Petro Saudi International (PSI), whose activities and origins he alleged were “dubious”.
When we raise loans of this size, we should have clear and definite investment plans, after feasibility studies concluded, on how to use the money………………………………………..Full Article: Source


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