Masidi: Bond repayment pre-planned since 2014, not Warisan's one-year feat
KOTA KINABALU (Aug 13): Sabah's Finance Minister Datuk Seri Panglima Masidi Manjun has refuted claims by Datuk Seri Shafie Apdal that the RM1 billion State Government bond repayment in 2019 was an extraordinary achievement of the Warisan administration.
'The repayment was never a sudden burden. It was planned since 2014 under a Bank Negara Malaysia requirement to set up a Sinking Fund, with RM200 million allocated annually over five years. By the time Warisan came into office, the funds were already budgeted, and only the final RM380 million instalment was tabled during their tenure,' he said in a statement on Wednesday.
Masidi was replying to the statement of the Warisan president regarding the repayment of the RM1 billion State Government bond in 2019.
He stressed that allegations of RM500 million from the bond proceeds being spent in another state were 'unfounded and irresponsible.'
'Official records are crystal clear, RM544 million repaid the first State Government bond from 2009, and RM456 million financed development projects under Sabah's 2014 Budget. Not a single sen went to another state,' he said.
Masidi reiterated that repaying the bond was a legal and contractual obligation, not an optional gesture.
'The financial discipline enabling this repayment was put in place in 2014, not 2018. Public discussion on State finances must be based on documented facts, not politically convenient narratives. The people of Sabah deserve nothing less,' he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
27 minutes ago
- The Star
Malaysia's household debt manageable at 84.3% of GDP
KUALA LUMPUR: Malaysia's household debt stands at about 84.3 per cent of gross domestic product (GDP), a level deemed appropriate for the country's economic conditions, said Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour. He said the central bank is monitoring closely the elevated household debt level, even as loans are being extended prudently and repaid on time. "From a stability perspective, these are good quality loans, and the debt service ratio has also improved,' Abdul Rasheed told a press conference after announcing Malaysia's second quarter 2025 (2Q 2025) GDP performance here today. He also said banks have been prudent in their loan approvals and have supported households through sound financing practices. "The latest household impairment ratio stands at a healthy 1.1 per cent, which reflects the resilience of household borrowers,' Abdul Rasheed noted. The central bank governor emphasised that BNM would continue to monitor household debt developments to safeguard financial stability while ensuring that credit remains supportive of economic growth. In a recent session of the Dewan Rakyat, Deputy Finance Minister Lim Hui Ying stated that Malaysia's household debt reached RM1.65 trillion as of the end of March 2025. While this level remains elevated, it is offset by robust household assets. She said the household sector remains resilient, backed by financial assets amounting to RM3.45 trillion as at end-March 2025, which is 2.1 times higher than total debt. - Bernama
Borneo Post
an hour ago
- Borneo Post
Over 10,000 show solidarity to Zara in KK
Thousands turned for the Himpunan Mega Solidariti #JusticeForZara at Padang Merdeka in Kota Kinabalu tonight. KOTA KINABALU (Aug 15): More than 10,000 people thronged Padang Merdeka here tonight to show solidarity to the late Zara Qairina Mahathir. Members of the public started gathering at the field as early as 7pm, carrying placards and banners depicting their support for the Form One student. The venue was visibly packed after 8pm, with several government and opposition leaders and members also spotted at the scene. It was understood that the event was organised by a coalition of non-governmental organisations (NGOs). Irwan Idrus, who came with five friends and family members from Tanjung Aru, attended the gathering to show his support to the late Zara and family. He expressed frustration that the case has been going on for some time but there is still no conclusion, as he lamented slow action by the relevant authorities. Irwan (second right) with family and friends attending the gathering to show support to the late Zara and family. 'So we hope that with the power of the rakyat, we can pressure the authorities to provide a swift conclusion to the case so that we can find out what really happened to Zara,' he told The Borneo Post when met. Among the political leaders present was Sepanggar Member of Parliament Datuk Ts Mustapha Sakmud, who went on stage and joined the public in demanding justice for Zara. Mustapha told the crowd that he forgives all those who tried to implicate his wife in the case, a rumour that had previously spread on social media. Parti Warisan Sabah (Warisan) legal advisor Chin Tek Ming also went on stage and addressed the crowd in a show of solidarity. Other Warisan members spotted were vice president Datuk Junz Wong, Putatan chief Datuk Uda Sulai as well as Darau assemblyman Datuk Azhar Matussin. State Tourism, Culture and Environment Minister Datuk Seri Christina Liew also spoke to reporters at the location. Liew said they gathered there as concerned citizens to reaffirm the ''No' to School Bullying' message, and to advocate for institutional reforms in residential schools. She proposed the pressing need to do away with any 'reactive approach' whereby the relevant authorities may only respond when a tragedy occurs, causing the loss of lives. 'We demand justice for 13-year-old Zara Qairina Mahathir in unison. 'A promising life was cut short under mysterious circumstances. 'Her tragic death must not be in vain,' she said. Two more rallies are expected to he held on Saturday at Taman Chong Thien Vun and Lintasan Deasoka.
The Sun
an hour ago
- The Sun
BJAK 8.8 Mega Giveaway Awards RM500,000 In Prizes, Including A BYD Seal Electric Car
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 15 August 2025 – BJAK has concluded its 8.8 Mega Giveaway, awarding prizes worth over RM500,000 to lucky participants nationwide, including the grand prize of a BYD Seal electric car worth over RM180,000. The nationwide campaign, held from 15 July to 8 August 2025, was part of BJAK's ongoing efforts to engage with customers and offer value through its services. Participants qualified for the lucky draw by requesting a free motor insurance quote on ensuring an easy and accessible entry process. In total, the campaign attracted over 120,000 entries nationwide, with 2,500 winners receiving FREE BJAK VIP Services – including free unlimited towing and free extended services – while 50 winners took home lucky draw prizes such as TVs, PS5 consoles, gadgets & appliances, lifestyle items, and more. The giveaway culminated in a livestream announcement hosted by well-known personalities Ceddy Ang, Scha Alyahya and Awal Ashaari. The online event drew viewers nationwide, with winners announced live as part of the celebration. The highlight of the giveaway was the grand prize, won by 20-year-old Halimie bin Abdul from Rawang, who is still completing his driving lessons. 'I'm in the midst of completing my driving lessons and never imagined I would own a car so soon,' said Halimie, recalling the moment he learned he was the grand prize winner. 'When I heard my name, I froze in disbelief. It was an overwhelming moment of joy that brought me to tears.' The campaign drew over a million entries, yet it was Halimie's story that resonated most. The BYD Seal, worth over RM180,000, will be his first car. For now, it will remain parked until he obtains his licence, although he already knows his first drive will be shared with his parents. BJAK's 8.8 Mega Giveaway underlines the company's commitment to rewarding its customers while promoting safe driving. The overwhelming response of the campaign reflects the trust Malaysians place in BJAK's insurance comparison platform and services.
