KUALA LUMPUR: Payments made by Bank Negara Malaysia and Khazanah Nasional to the Ministry of Finance (MoF) were then used to service debt obligations of 1Malaysia Development (1MDB), confirms Lim Guan Eng.
KUALA LUMPUR (May 24): Malaysian Government-owned investment arm Khazanah Nasional Bhd said today that it had issued RM3 billion worth of redeemable cumulative convertible preference shares (RCCPS) to the Ministry of Finance (MOF) on March 7, 2011.
Khazanah said the RCCPS was essentially injected capital which MOF has the right to redeem at any time.
In a statement today, Khazanah said the MOF owns 100% of Khazanah.
"On 14 March 2014, MOF redeemed RM1.8b of the RM3.0b issued. On 11 August 2017, MOF redeemed a further RM1.199b of the remaining RM1.2b RCCPS.