February 19, 2018

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Govt hiding RM875m debt with ‘creative accounting’

PETALING JAYA: The MP for Kelana Jaya Wong Chen has accused the Finance Ministry of engaging in “creative accounting” to hide its massive RM875 million debt by converting its loans to Malaysia Debt Ventures Berhad (MDV) and Prasarana Malaysia Berhad (PMB) into shares.

In a statement, Wong Chen said, “It is obviously an attempt to artificially reduce government debts, because with this debt to share swap, an outstanding loan will be converted into an investment of the government.”

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