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Malaysia "slowly but surely" exorcises 1MDB ghosts, to issue Samurai bonds next month: Finance Minister

New Straits Times logo New Straits Times 12/2/2019 NST Business
Lim Guan Eng wearing a suit and tie: Finance Minister Lim Guan Eng says Malaysia was “slowly but surely” exorcising the ghosts of 1Malaysia Development Bhd (1MDB), which had tainted it as the destination for business and investment. (NSTP pic by ROSELA ISMAIL) © Provided by Media Prima Finance Minister Lim Guan Eng says Malaysia was “slowly but surely” exorcising the ghosts of 1Malaysia Development Bhd (1MDB), which had tainted it as the destination for business and investment. (NSTP pic by ROSELA ISMAIL)

KUALA LUMPUR: Malaysia will issue its first 200 billion yen Samurai bond next month, Finance Minister Lim Guan Eng said.

The bonds may have a coupon rate of a maximum 0.65 per cent, Lim told reporters at the launch of Landlease of Australia's TRX lifestyle precinct here today.

The Japanese government has offered to guarantee 200 billion yen or RM7.4 billion Samurai bond to be issued with 10-year tenure by Malaysia.

Lim said Malaysia was “slowly but surely” exorcising the ghosts of 1Malaysia Development Bhd (1MDB), which had tainted it as the destination for business and investment.

"Last week when I visited Japan, many investors came to me, expressing their interests in investing in Malaysia. They told me they were very hesitant previously due to 1MDB's scandal," he added.

Lim also said the Malaysian economy could grow at a faster rate this year.

Malaysia was set to register slower economic growth in 2018, at 4.9 per cent from 5.9 per cent in 2017, according to analysts' forecast.

Economic outlook this year also looked bleak and the country's gross domestic product growth is expected to be slower at 4.7 per cent due to lack of catalysts, analysts said.

"Malaysia's economy could grow at 4.9 per cent or faster this year. We have a solid base to build on," Lim said, defying the analysts' forecast.

© New Straits Times Press (M) Bhd

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