(Repeats to more subscribers) The Cabinet has rejected a proposed 3 billion ringgit ($834 million) cash injection for the debt-laden 1Malaysia Development Bhd (1MDB), narrowing the financing options for the strategic investor to repay its debts on time, the Malaysian Insider reported on Friday, citing sources.
A majority of ministers at this week’s Cabinet meeting on Wednesday did not approve the minutes of the previous week’s meeting for the amount, the news portal reported.
"The Cabinet rejected the proposed RM3 billion cash injection for 1MDB," a source told the Malaysian Insider in Kuala Lumpur on Thursday night. (bit.ly/1DfCDCX)
NOTE: Reuters has not verified these stories and does not vouch for their accuracy. ($1 = 3.5990 ringgit) (Compiled by Kuala Lumpur Newsroom; Editing by Anand Basu)