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Govt to continue with Tun Razak Exchange, says Guan Eng

savemalaysia
Publish date: Thu, 21 Jun 2018, 02:59 PM
PUTRAJAYA: The controversial Tun Razak Exchange (TRX) will be continued, according to Finance Minister Lim Guan Eng.

Speaking to the media on Thursday, Lim said the Cabinet has decided to continue the project to recoup all misappropriated funds, repay all borrowings, recover all funding investments and opportunity costs.
 
Lim also said that the TRX project may make a small profit return, upon completion.

"Yesterday, the Cabinet has met and decided the TRX project shall be completed, with government funding up to RM2.8bil", he said.  

This was to ensure completion of TRX to a avoid a RM3.51bil compensation.

Lim also added the RM2.8bil ceiling cap amount will be valid until 2024. 

“More than RM3bil was misappropriated by 1MDB from the TRX project,” he said. “1MDB had used TRX funds for its loan repayment.”
 

https://www.thestar.com.my/business/business-news/2018/06/21/govt-to-continue-with-tun-razak-exchange-says-guan-eng/

 

Discussions
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Sami_Value

Financial sectors need boaster dose from property.
- Maybank, CIMB, PBB, HLB, RHB, HLFG

Palm oil - EU listed ban will only come effective 2021. Do more for palm oil.
- KLK, Sime Plant, PPB, HapSeng, IOI. FGV (ex KLCI)

Petronas related

- do something on Petdag, Petgas, MISC, Petchem

2018-06-21 15:09

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