if someone with the knowledge can share, if BNM's international reserves stood at US$96.4 or RM399.70?

From the market value, US96.4 x 4.46 will be RM429.944billion.

I wonder if it's a good move,
to increase leverage(borrow more loan) to invest in property market.

My point is,

Since the ringgit is weak, so in very soon there will be increase in labour(bangla, indon, etc), steel bar prices as well as various construction materials.

There is a good chance for us to get a good property at a discounted price.

If this is a move like "SHORT" ringgit and give us the effect of hedging on currency?

What i wondering is instead of the measuring of our asset worth equal to USD was reduced, what is the significant impact to everyone living?

It seem that it's drastic changes frm RM3 to Rm4.5 for one USD, but what is the biggest impact we ever feel?

Business News

Home > Business > Business News

Friday, 11 August 2017 | MYT 11:48 AM
1MDB says paid RM1.5b to IPIC

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) said on Friday it has paid US$350mil (RM1.5bil) of its debt to Abu Dhabi's International Petroleum Investment Co. PJSC (IPIC).

In a statement, 1MDB said the payment was pursuant to the amendment dated Aug 8, 2017 to the settlement deed with Minister of Finance (Incorporated) Malaysia and IPIC.

“1MDB has now remitted, to date, the equivalent of US$350mil to IPIC. The balance of the original July 31, 2017 payment obligation to IPIC is accordingly now due on Aug 31, 2017,” it said.

1MDB said that all funds paid to IPIC are from proceeds of the on-going rationalisation programme.

On Aug 8, IPIC had agreed to grant the MoF Inc and 1MDB an extension untl the end of August to meet their payment obligations if a payment of at least US$310mil was made by Aug 12.

This came after 1MDB missed its original payment deadline of July 31 as well as an ensuing five-day extension due to technical issues.

Tags / Keywords: Corporate News , Government , Banking

If that meaning of a purchase of 350M USD with MYR.

An there will be another purchase of 310M USD at the end of the mth.