| 1Malaysia Development Bhd (1MDB) president and CEO Arul Kanda Kandasamy said the company will have at least RM10 billion worth of assets after undergoing a rationalisation plan to clear its debts. Speaking in a public forum on Saturday, Arul Kanda also said the government is supportive of the plan, including selling its assets.
Among the assets that the company owns include the land in Tun Razak Exchange as well as a 40% stake in Bandar Malaysia Sdn Bhd worth between RM4 billion and RM5 billion, land in Ayer Itam, Penang (RM1 billion) and Pulau Indah (RM300 million). “1MDB took loans to purchase assets. The payment of debts is made through generating our assets,” said Arul Kanda in a packed public briefing at Putra World Trade Centre (PWTC) on Saturday..............................................Full Article: Source
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