Arul refutes Pua’s 1MDB claims

KUALA LUMPUR – July 2, 2015:  1Malaysia Development Berhad (1MDB) today clarified that the government-own strategic investment firm is still being investigated by the authorities.

Its president and group executive-director Arul Kanda Kandasamy in a press statement addressed a “misleading statement” by DAP lawmaker Tony Pua.

Pua had earlier questioned “why no action has been taken against 1MDB by the lawful authorities.”

To this, Arul said Pua has conveniently ignored to highlight that 1MDB is currently the subject of enquiries by a number of authorities, “including the Auditor-General, Bank Negara Malaysia, the police and the Public Accounts Committee (PAC).

“PAC is a committee that YB Tony Pua himself is a member of. 1MDB is fully cooperating with these enquiries accordingly.

“Evidence and proof relating to the company have been and will continue to be shared with these lawful authorities.

“The PAC is the lawful authority to verify allegations such as whether RM42 billion has ‘disappeared’ from 1MDB.”

Arul added that in the interest of fairness and due process, 1MDB hopes that Pua will confirm that the PAC will investigate the specific allegation of “RM42 billion missing” in the same way he is insisting that other allegations against 1MDB are to be investigated.

“1MDB has repeatedly issued clarifications to address allegations made by various parties, including Tun Dr Mahathir Mohamad, and The Edge media group.

“1MDB reaffirms its previously stated position that if any wrongdoing is found, then action must be taken by the lawful authorities, as per due process and the laws of our country,” said Arul.

1MDB has been under sieged for the past several months due toit  being accused of losing a total amount of RM42 billions of taxpayers money.








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Zaidi Azmi

Zaidi Azmi

If Zaidi Azmi isn’t busy finding his way in the city, this 26-year-old northern kampung boy can be found struggling to make sense of the Malaysian political scene. Zaidi can be reached at zaidiazmi91@gmail.com.