1Malaysia Development Bhd (1MDB) has responded to former premier Tun Dr Mahathir Mohamad’s recent blog post on the national sovereign fund.
In a statement, 1MDB labelled the continuous allegations as misleading and made without a shred of evidence.
Below is the full statement from 1MDB:
1MDB refers to a blog posting by Tun Dr Mahathir Mohamad dated June 29, 2015.
Despite clarifications from 1MDB, despite both KPMG and Deloitte standing behind their audits at recent PAC hearings, and despite the ongoing inquiries into this matter by the lawful authorities, Dr Mahathir continues to repeat the same questions and falsely claim that 1MDB funds are “lost” or “unaccounted for”, without providing any shred of evidence.
1MDB has now issued a response to Dr Mahathir, which follows two statements issued on June 16, 2015, answering these very same questions that have been repeated yet again by Dr Mahathir.
Such allegations and misleading statements by Dr Mahathir and certain opposition politicians significantly impacts the ability of 1MDB, a 100% government-owned company, to conduct its ongoing business and causes damage to the wider economy.
Furthermore, such allegations negatively impact the implementation of the 1MDB rationalisation plan announced on May 29, 2015, which is intended to reduce the company’s debt levels and ensure that maximum value is generated for our 100% ultimate shareholder, the government of Malaysia.
1MDB is the subject of ongoing inquiries by the Public Accounts Committee (PAC) — a bi-partisan committee of Parliament. The PAC is a lawful authority to verify whether RM42 billion has ‘‘disappeared’’ from 1MDB, as they have access to all information.
1MDB trusts that the honourable members of PAC will specifically look into this allegation and provide their judgement to conclusively resolve this matter.
1MDB remains committed to implementing the rationalisation plan, and reaffirms our previously stated position that if any wrongdoing is found, then action must be taken by the lawful authorities, per due process and the laws of our country.