Malaysia government to wind up 1MDB: A look at the state fund's debts, assets and liabilities

A worker walking past a poster of the 1MDB logo on a truck in Kuala Lumpur, on March 14, 2016. PHOTO: AFP

The Malaysian government is working towards the winding up of state investment firm 1Malaysia Development Berhad (1MDB) under a plan spearheaded by a high-level government unit called the Budiman committee. Here is a look at the debts, assets and liabilities of the company.

DEBTS

* Sukuk bond due in 2039 - RM5 billion (S$1.61 billion)

* Loan from workers' fund SOCSO due in 2022 - RM800 million

* Bandar Malaysia sukuk bond - RM2.4 billion

* International bond due 2023 - US$3 billion (RM13.398 billion)

Total: RM21.998 billion or US$4.78 billion

IN DISPUTE

With Abu Dhabi's IPIC and Aabar Investments PJS

This is over:

* A cash advance US$1.15 billion to 1MDB.

* Bond principal US$3.5 billion which Abu Dhabi had guaranteed

* Bond interest US$1.35 billion

* Payment for termination of options US$0.48 billion

Total US$6.48 billion

ASSETS

* Bandar Malaysia, 197ha township on the fringes of KL that will house the terminus for the high-speed rail link to Singapore, 40 per cent owned by 1MDB.

The development is facing problems as the 1MDB's 60 per cent partners, the state-owned China Railway Group and Johor-based Iskandar Waterfront Holdings, have sought repeated extensions to capital injections.

* Tun Razak Exchange or TRX, a joint development between 1MDB and Australia's Lend Lease to develop a lifestyle quarter over 7ha near Bandar Malaysia, comprising a hotel, three residential towers and a retail mall, with costs estimated at RM8 billion. The total size of TRX is 28ha.

* Ayer Itam parcel, Penang island.

Only six months ago, this 94.7ha plot of land was in great demand, particularly from several Chinese corporations. State-owned China Metallurgical Corp was proposing to pay about RM2 billion for it or participate in a joint development with 1MDB that would guarantee profits of about RM3.5 billion.

But that deal is no longer on the table due to differences over valuation issues, property executives say.

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