1MDB took on more debt than it could bear, court hears


Kamles Kumar

Former 1MDB chief executive Shahrol Azral Ibrahim Halmi testifies that the state investor was RM10 billion in debt in March 2013 when it decided to raise US$3 billion to finance the Tun Razak Exchange project. – The Malaysian Insight file pic, August 5, 2020.

STATE investor 1Malaysia Development Bhd was already severely in debt in March 2013 when it decided to raise US$3 billion to finance the Tun Razak Exchange project, the high court heard today.

This was revealed by former 1MDB chief executive Shahrol Azral Ibrahim Halmi during cross-examination by Najib Razak’s lawyer, Wan Aizuddin Wan Mohamad, in the former prime minister’s graft trial.


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