We don’t owe foreign financial institutions anything — CM

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SARAWAK does not owe any international financial institutions any loans or bonds, Chief Minister Datuk Patinggi Abang Johari Tun Openg stressed yesterday.

Rebuking allegations by Chong Chieng Jen (PH-Kota Sentosa) after the adjournment of the State Legislative Assembly (DUN) sitting, he said all loans by the Sarawak government were from domestic banks and financial institutions.

“I have to check because now we don’t have any offshore loans – all domestic banks. So we don’t have to provide guarantee. But then, you know, he (Chong) equated us (Sarawak government) with 1MDB (1Malaysia Development Berhad) which is entirely different.

“You must remember the PH (Pakatan Harapan) government is also having offshore loans, and is subject to international risk, such as the Samurai Bond (from Japan),” he said when responding to reporters at the DUN Complex foyer regarding Chong’s claim.

Abang Johari explained that the reason why it was necessary for the Sarawak government to loan from banks was because it would take time for the various development projects to be completed, and therefore the government would pay based on the progress of the projects.

“That’s why, they (PH Sarawak) don’t know,” he added.

Earlier, just after Abang Johari concluded his winding-up speech, Chong in a press conference at the DUN Media Centre alleged that the Sarawak government, through Equisar Sdn Bhd and another company, raised a bond and a loan amounting to USD1.6 billion several years back.

“And the repayment of that loan is guaranteed by the state government. That’s why every year, the state government allocates this USD1.6 billion into this account,” he claimed.

Chong accused Abang Johari, who is also state Finance Minister, of being ignorant on matters within his portfolio.

“It shows either he (Abang Johari) doesn’t know his portfolio, matters within his portfolio, or he’s trying to cover up,” he said.

BP