01.12.2014 - Pensions at risk because of loan to 1MDB subsidiary, warns Rafizi
Civil servants should heed the controversies surrounding sovereign wealth fund 1Malaysia Development Berhad (1MDB) as one of its subsidiaries has not been able to service a RM4 billion loan taken from Kumpulan Wang Amanah Pencen (KWAP) which pays government pensions, opposition lawmaker Rafizi Ramli said. "In case civil servants are dismissing the 1MDB controversy, they should know that their pensions are paid by KWAP," Rafizi said. "In 2011, KWAP approved a RM4 billion loan to a subsidiary company belonging to 1MDB. The money was ostensibly to create a strategic resource company...............................................Full Article: Source
Print