Letter to enable 1MDB Global Investment Ltd to secure US$3 billion bond done in haste, witness says 

Noel Achariam Noel Achariam Updated 1 year ago · Published on 27 Sep 2022 2:42PM · 0 Comments

1MDB Global Investment Ltd, a subsidiary of 1MDB, needed to obtain a US$3billion (RM12.5 billion) bond in 2013 but the principal banker, Goldman Sachs, had suggested to the company that they obtain a LOS from the Malaysian Finance Ministry. – The Malaysian Insight file pic, September 27, 2022.

A FORMER treasury official told the High Court that a letter of support (LOS) issued by the government to enable 1MDB Global Investment Ltd to secure a US$3 billion bond was done in haste.

Former finance ministry deputy secretary general Siti Zauyah Mohd Desa said that in her 25 years’ experience with the ministry the LOS was an abnormal transaction. 

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