00:00Sabah Finance Minister Masidi Manjun has hit out at Warisan President Shafi Abdaal for claiming that his administration in 2019 had settled a 1 billion ringgit debt left by the previous government.
00:14Masidi said Shafi's claim was aimed at showing that his administration was good at managing government finances, but the facts speak for themselves.
00:23Masidi, who is also Gabungan Rakyat Sabah Secretary General, explained that the federal bond in question was issued in December 2014 during the Warisan National-led State Administration.
00:34He said the central bank required the state government to set up a dedicated sinking fund for the state bond, ensuring full repayment upon maturity and preventing it from becoming a heavy financial burden on the state's finances.
00:47By the time the Warisan administration took office in 2018, Masidi said most of the funds needed for repayment had already been secured.
00:57He added that the following year, 1 billion ringgit in the sinking fund enabled the state government to fully settle the bond debt in one-bullet payment, not through any special action by the Warisan government.
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