May 16, 2018 / 2:38 AM / in a year

Risk to Malaysian government if 1MDB defaulted on loans estimated in 2015 at $5.12 billion: report

FILE PHOTO: A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, in this March 1, 2015 file photo. REUTERS/Olivia Harris/File Photo

KUALA LUMPUR (Reuters) - The Malaysian government’s exposure as of October 2015 if state fund 1Malaysia Development Berhad (1MDB) defaulted on its loans was 20.3 billion ringgit ($5.12 billion) before interest, a declassified auditor’s report made available on Wednesday showed.

The report by the Malaysian auditor general was declassified on Tuesday. A summary that was made available at the time said senior officials at scandal-plagued 1MDB withheld information from its board and took some decisions without the board’s approval.

Reporting by Rozanna Latiff and Emily Chow; Writing by Liz Lee; Editing by Raju Gopalakrishnan

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