(File pic) 1MDB’s subsidiary Plenitude Mentari Sdn Bhd has fully repaid the RM950 million Standby Credit Facility to the government. Pix by Nurul Syazana Rose Razman.

KUALA LUMPUR: Plenitude Mentari Sdn Bhd, subsidiary of 1Malaysia Development Bhd (1MDB), has repaid in full the RM950million Standby Credit Facility from the government.

In a press statement today, the strategic development company said the subsidiary has repaid in full, all the principal and interest.

It also said: "This facility was entered into on 27 February 2015, further to the strategic review announced on 18 February 2015, as a direct response to the cash-flow mismatch faced by the company."

1MDB also said the Standby Credit Facility has helped to stabilise the company, at a time when it was under severe attack from multiple parties and had no other financing options.

However, with the stability, the strategic firm said, 1MDB and MoF Inc. were then able to develop and implement the rationalisation plan, the success of which has resulted in the Standby Credit Facility being repaid in full.

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