| 1MALAYSIA Development Bhd’s (1MDB) RM7.18bil in offshore accounts in the Cayman Islands is expected to be channelled back to the country by December. “Sixty per cent of the money is already back. The remaining 40% will be brought back by the end of this year,” Deputy Finance Minister Datuk Ahmad Maslan said in his reply to Tony Pua (DAP-Petaling Jaya Utara) when winding up his ministry’s debates on Budget 2015.
He said the repatriation would be done despite the profits of between 6% and 7% per annum from the investments. Later, when met at the Parliament lobby, Ahmad said the money was being brought back to fund 1MDB’s projects such as the Tun Razak Exchange and Bandar Malaysia development projects...............................................Full Article: Source
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