Kota Kinabalu: The difference between 1MDB and SMJ Energy Sdn. Bhd. paying off Sabah International Petroleum’s (SIP) debts through sukuk bonds is that no one in the government pockets the money, said State Finance Minister Datuk Seri Masidi Manjun (PGRS – Karanaan).
Masidi said monies withdrawn in the 1MDB scandal were stolen but in the case of the GRS government, banks have approved the payments.
“Why can’t SMJ (Energy) help? It has just declared an audited profit today of RM259 million. Don’t worry, we are not 1MDB,” he told Datuk Seri Mohd Shafie Apdal (Warisan – Senallang) at the State Legislative Assembly on Wednesday.
Shafie was asking why the government took out a RM900 sukuk loan to pay SIP’s debts.
SPONSORED CONTENT Shell awards Sabah LiveWIRE winners Kota Kinabalu: Shell has awarded five enterprises as the state winners of Shell LiveWIRE Malaysia 2024, following the Sabah state finals held at Plaza Shell in Kota Kinabalu. . Read more * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access.
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