07.01.2015 - 1MDB Says It’s ‘Responsible’ Borrower Amid Debt Concerns
1Malaysia Development Bhd., the country’s state investment company, defended its credentials as a borrower after a newspaper reported it failed to repay a loan of more than $500 million last month. “As far as the banking sector and the credit sector is concerned, we are responsible borrowers” and the company has never defaulted, Arul Kanda, who was named president of 1MDB yesterday, said in an interview. “We need to manage the use of our cash in the most efficient way for the company.”..............................................Full Article: Source
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