Agency to settle debts of failed bookshop project, says Maszlee

Nabihah Hamid Andrew Chin Ragananthini Vethasalam

Education Minister Maszlee Malik says the Malaysian Institute of Translation & Books must find creative ways to help the KB1M chain settle its debts. – The Malaysian Insight file pic, May 16, 2019.

THE Malaysian Institute of Translation & Books (ITBM), which was charged with managing the failed bookstore chain project, Kedai Buku 1Malaysia (KB1M), is undergoing a revamp to increase its earnings to pay off a RM3 million debt to publishers, said Education Minister Maszlee Malik.

KB1M, which was launched under the previous Barisan Nasional government, was placed under the charge of ITBM, which is wholly owned by the Finance Ministry, with its administration managed by the Education Ministry.

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