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Uploaded on Nov 3, 2011
Opposition parliamentarians demanded an explanation from the government on the RM1.11 billion set aside for 1Malaysia Development Berhad (1MDB) under the Finance Ministry.
1MDB, a government-owned investment arm, according to Tony Pua (DAP-Petaling Jaya Utara), will be disbursed RM400 million from the RM1.11billion chunk from next year.
"Now we question why is the government funding 1MDB with RM1.11 billion? Because they are supposed to be self-funding and they have already raised more than RM5 billion from the market and expecting to raise another RM5 to RM10 billion," exclaimed Pua.