1MDB board confirms China bailout by knowing nothing about it

KUALA LUMPUR:   Today 1MDB gave the clearest signal yet it was indeed in private talks with China to bail out a US$6.5bn debt to Abu Dhabi’s state-owned International Petroleum Investment Company after chairman of the week, Tan Sri Dr Mohd Irwan Serigar Abdullah claimed he knew nothing about it.

“Malaysians are very familiar now with how 1MDB operates,” said a local analyst, “if the chairman says,  ‘as I know, there is no such thing as us talking to China,‘ it obviously means he is following standard 1MDB board member protocols by knowing nothing about the deals it is quietly making.”

It is understood 2nd Finance Minister Johari Abdul Ghani, has confirmed he is also completely in the dark about the China rescue package making it even more likely.

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