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KUALA LUMPUR, Oct 30 -- Information on the second Samurai bond issuance will be announced through a formal statement, said Finance Minister Lim Guan Eng.

He said this was to avoid misinterpretation on the Samurai bond.

"We will let you know by a formal statement because this one involves international issuance, let it be done through a formal statement so there is no misunderstanding," he told reporters at the Parliament lobby here, today.

The Samurai bond is a government-to-government arrangement and also the efforts by both Prime Minister Tun Dr Mahathir Mohamad and his Japanese counterpart Shinzo Abe, which aims to foster closer economic and cultural ties between Malaysia and Japan.

Meanwhile, asked on the Auditor-General's ((AG) suggestion to limit government guarantees, Lim said at the moment, although the decision on the guarantees was made by his ministry, all approvals would go through the Cabinet first.

"We always go through Cabinet to get approval. It must get Cabinet approval.

"After the separation between the post of the prime minister and finance minister, there is check and balance," said Lim.

On Oct 15, AG Datuk Nik Azman Nik Abdul Majid said there was a concern over the ability of five subsidiaries under the Minister of Finance Incorporated (MoF Inc) to meet their debt obligations.

He stated that the companies had the obligation to repay the advances from the government, referring to Section 8 of the Loans Guarantee (Bodies Corporate) Act.

The five subsidiaries are Kuala Lumpur International Airport Bhd, GovCo Holdings Bhd, Asset Global Network Sdn Bhd, Jambatan Kedua Sdn Bhd and DanaInfra Nasional Bhd.

-- BERNAMA