Last of Tabung Harapan donations used, says Guan Eng

Finance Minister Lim Guan Eng says the government would like to thank all Malaysians who contributed to Tabung Harapan.

PETALING JAYA: The government has utilised the remaining RM61.68 million in the Tabung Harapan fund to pay off 1MDB’s Islamic Medium Term Note (1MDB IMTN) sukuk interest on Nov 28.

In a statement, Finance Minister Lim Guan Eng said as of Jan 14 this year, Tabung Harapan had collected RM202.7 million in donations plus RM2.77 million in interests, making a total of RM205.4 million.

“The government would like to thank all Malaysians who contributed to Tabung Harapan,” he said.

Lim said the remaining RM61.68 million used was for a portion of the 1MDB IMTN interest amounting to RM143.75 million.

The rest of the money used to pay for this was funded from the proceeds of the RM1.45 billion in recovered 1MDB assets so far.

It is understood that the interests payments for 1MDB IMTN are twice a year.

According to a table provided in the statement, this is how all of Tabung Harapan’s RM205.4 million was used.

  • May 30 – to pay of a portion of 1MDB IMTN sukuk interest – RM143.75 million.
  • June 16 – repayment of dishonored cheques (RM51,500).
  • June 25 – repayment of errorneous donations (RM9,457).
  • Nov 28 – To pay of a portion of 1MDB IMTN sukuk interest (RM61.68 million).

Lim said the government will be spending RM13.9 billion on 1MDB and SRC International Sdn Bhd’s debts from 2017 to 2020.

“1MDB’s debts at this point stands at RM50.5 billion including interests which will only be settled in 2039,” he said.

Tabung Harapan was established by the Pakatan Harapan administration on May 30 last year to receive donations and contributions from individuals and companies to assist the government in tackling the country’s debts.