The fund may be debt free, but it is still the subject of investigations into alleged money laundering in at least six countries.

1MDB, Malaysia's state-owned fund currently at the epicentre of worldwide probes into alleged money laundering, is reportedly now debt-free after repaying loans totalling nearly MYR4 billion ($904.9 million).

Malaysia's Finance Ministry said the debts of 1Malaysia Development Berhad, or 1MDB, which included a standby credit facility from the federal government, were paid in 2015 and 2016, local media reports stated. 

“As of now, 1MDB does not owe anything to banks, no has short-term debts,” the ministry reportedly said in a letter. 

1MDB is currently the subject of money laundering investigations in at least six countries, including the US, Singapore, Switzerland and Australia. Authorities allege that Malaysian officials and their affiliates have siphoned off billions of dollars from the fund and used various banks, such as Falcon, to cover their tracks. 

The ministry reportedly said 1MDB paid MYR229.5 million to Affin Bank in November 2015 for a revolving credit facility; settled MYR950 million with the federal government in March 2015 for a standby credit facility; paid MYR2 billion to Marstan Investments in April last year for a term loan facility; and paid $150 million to EXIM Bank in April last year.

The ministry also reportedly said 1MDB had raised cash amounting to MYR10.97 billion through sales of assets in Edra Global Energy, equities in Bandar Malaysia, and land for the Tun Razak Exchange project in 2015 and 2016.

No new assets were acquired in 2015 and last year, the ministry reportedly said.