National strategic investment agency, 1Malaysia Development Berhad (1MDB) has lambasted an English daily unsubstantiated reports on investigations into 1MDB as lawful authorities are currently conducting investigations into the Malaysian investment firm.
1MDB is alarmed with a number of reports that have been published by daily that has made allegations based on the views of anonymous investigator.
“The Star has made a number of assertions based on the opinions of an unnamed "investigator", with reference to certain transactions undertaken by 1MDB.
“1MDB is concerned that a regulated and licensed newspaper such as The Star is presenting such unsubstantiated opinions as fact in its reporting.
“It is a well known fact that a number of lawful authorities are conducting investigations on 1MDB and no final determination has yet to be made,” 1MDB said in a statement issued today.
The investment firm said the interim report on 1MDB by the National Audit Department submitted to the Public Accounts committee (PAC) stated there was nothing suspicious on claims of misappropriation of funds.
The Star has only made sloppy reporting when they claimed ‘even assets that are being held for sale cannot be easily liquidated’, said 1MDB.
“This is clearly wrong as the notes to the 30.03.2014 financial statements of 1MDB, as audited without qualification by Deloitte, describes how USD1.22 billion (approx. RM 4.6 billion) of these assets had in fact been liquidated and cash proceeds utilised.
“The Star further states that ‘there was no document related to the existence of assets and valuation of PetroSaudi Holdings (Cayman).
“This is blatantly incorrect. There was a valuation report prepared when the investment was made and 1MDB has in fact submitted the same report to the lawful authorities for their review," read the statement.
1MDB believes that the allegations are baseless and that the claims on missing RM42 billion or the RM16 billion are merely distortion of truth.
IMBD also added that a number of lawful authorities are currently conducting investigations into 1MDB. 1MDB is fully cooperating with these investigations.
"We trust that appropriate measures will be taken by the lawful authorities to ensure the integrity of such investigations," said 1MDB.
The interim report on 1MDB has been completed according to schedule, the Auditor-General's (AG) office said in a statement July 2.
However, PAC chairman, Datuk Nur Jazlan Mohamed said 1MDB has not yet handed over important documents needed in the investigations such as bank statements and agreements to the Auditor-General on July 9.
On March 4, Prime Minister Datuk Seri Najib Razak had ordered the Auditor-General to independently verify the accounts of 1MDB.
The PAC has reportedly begun investigative proceedings into the 1MDB scandal on March 19.
Following a special meeting on April 30, the PAC had decided to begin investigations on 1MDB.
Sathesh Raj
Sat Jul 11 2015
1MDB is alarmed with a number of reports that have been published by The Star that has made allegations based on the views of anonymous investigator. - File Photo
Is climate change making tropical storms more frequent? Scientists say it's unclear
Scientists say it remains unclear how much climate change is reshaping the storm season.
Samples obtained by Chinese spacecraft show moon's ancient volcanism
The material provides new insight into the moon's geological history including the oldest evidence to date of lunar volcanism.
The scamdemic targeting the young and vulnerable
Teenagers and young adults are becoming prime targets for a new wave of cyber scams, a trend raising alarm bells across Southeast Asia.
Japanese manicurist takes on plastic pollution, one nail at a time
Before global leaders address plastic pollution, a Japanese manicurist highlights the issue by incorporating it into her nail designs.
What to watch for ahead of US presidential inauguration
Here's a timeline of events between now and inauguration day.
The battle to reduce road deaths
In Malaysia, over half a million road accidents have been recorded so far this year.
Pro-Palestinian NGOs seek court order to stop Dutch arms exports to Israel
The Dutch state, as a signatory to the 1948 Genocide Convention, has a duty to take all reasonable measures at its disposal to prevent genocide.
How quickly can Trump's Musk-led efficiency panel slash US regulations?
Moves by Trump and his appointees to eliminate existing rules will be met with legal challenges, as many progressive groups and Democratic officials have made clear.
2TM: Consultations on PTPTN loans, admission to IPTA at MOHE booth
Consultations on PTPTN loans and admission to IPTA are among services provided at the Higher Education Ministry booth.
Kampung Tanjung Kala residents affected by flooded bridge every time it rains heavily
Almost 200 residents from 60 homes in Kampung Tanjung Kala have ended up stuck when their 200-metre (m) long concrete bridge flooded.
COP29 climate summit draft proposes rich countries pay $250 billion per year
The draft finance deal criticised by both developed and developing nations.
Bomb squad sent to London's Gatwick Airport after terminal evacuation
This was following the discovery of a suspected prohibited item in luggage.
Kelantan urges caution amidst northeast monsoon rains
Kelantan has reminded the public in the state to refrain from outdoor activities with the arrival of the Northeast Monsoon season.
Former New Zealand PM Jacinda Ardern receives UN leadership award
Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.
ICC'S arrest warrants for Netanyahu, Gallant an apt decision - PM
The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.
KTMB provides two additional ETS trains for Christmas, school holidays
KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.
BNM'S international reserves rise to USD118 bil as at Nov 15, 2024
Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.
Findings by dark energy researchers back Einstein's conception of gravity
The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.
NRES responds to Rimbawatch press release on COP29
The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.
Online Safety Bill and Anti-Cyberbullying Laws must carefully balance rights and protections
The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.