1MDB to be closed down? Not true, says minister

Talks that the troubled investment arm 1Malaysia Development Berhad (1MDB) will be closed down is not true said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

“Not true,” Ahmad Husni said in a brief text message to online portal, The Malay Mail Online.

On Friday, Ahmad Husni was appointed as the government's spokesman on matters pertaining to 1MDB.

Minister in the Prime Minister's Department Datuk Mah Siew Keong said the appointment of a spokesman was made to avoid contradictions in statements issued on the issue.

READ: Cabinet appoints Ahmad Husni as spokesman on 1MDB issue

On Friday, Ahmad Husni had presented a plan for the corporate rationalisation of 1MDB to the Cabinet involving the winding up of 1MDB and setting up of three standalone operating companies.

IMDB is expected to be wound down, the Cabinet was told, but the key challenge is its high-level of debt which stood at RM42 billion in its last financial accounts.

READ: Cabinet members must know everything about 1MDB - Shafie

READ: 1MDB roadmap to be tabled to Cabinet today