Shafie alleged that when he took over as chief minister in 2018, there was only about RM400 million in the sinking fund set up for the repayment of the bond upon its maturity.
But Masidi said records showed that contributions to the sinking fund were made in stages and as scheduled: RM2 million in 2016 (tabled in 2015), RM200 million in 2017 (tabled in 2016), RM400 million in 2018 (tabled in 2017), and RM380 million in 2019 (tabled in 2018).
“The remaining RM18 million was covered through interest earned from the fund’s investments,” he said in a statement.
Masidi said the claim that Warisan had to “find” RM600 million in a matter of months ignored the fact that the payment schedule had been in place since 2014, and the necessary funds were already budgeted as part of the state’s multi-year financial planning.
“In fact, during Warisan’s administration, only one payment of RM380 million was tabled, an obligation that would have been carried out by any government in office,” he added.
Shafie claimed yesterday that Warisan’s government had boosted the sinking fund from RM400 million to RM1 billion in a year through prudent financial management, cost controls and the reallocation of resources.
He was responding to Masidi, who had accused him of claiming credit for the debt repayment when it was thanks to the financial planning of the Musa Aman administration.
Shafie also urged Masidi to explain what the RM1 billion bond was used for, claiming he was informed that half of it was spent on another state.
Masidi, the Gabungan Rakyat Sabah secretary-general, said the allegation was both unfounded and irresponsible.
“Such a serious claim, made without a shred of credible evidence, misleads the public and undermines trust in the state’s financial management.
“Official records are unambiguous: the bond proceeds were used entirely for Sabah’s purposes – RM544 million to repay the first state government bond issued in 2009, and RM456 million to finance state development projects under the approved 2014 state budget,” he said.
He added that public discussions on state finances should be anchored in documented facts, not selective figures or politically convenient narratives. “The people of Sabah deserve nothing less.”