Government and Politics
Masidi: RM1 billion bond repayment due to BN’s planning, not Warisan’s action
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AI Summary
Sabah's Finance Minister Masidi Manjun refuted claims by opposition leader Shafie Apdal that his administration paid off RM1 billion in debt in 2019. Masidi clarified that the repayment was for a bond issued in 2014 under the previous Barisan Nasional government. A sinking fund, established as a condition of the bond, required RM200 million annual deposits, ensuring sufficient funds were available by the 2019 maturity date. Masidi emphasized that the repayment was a result of pre-existing financial planning, not a special action by the Warisan government.
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