1MDB: Critics derailing ‘rationalisation’ process


Wall Street Journal’s (WSJ) latest “expose” on 1MDB claimed to be an old article, recycled, with nothing new

(Free Malaysia Today) – 1Malaysia Development Berhad (1MDB) said in a statement that the allegations contained in the latest Wall Street Journal (WSJ) “expose” on the company were “simply a regurgitation of old claims carried by it.”

“It has re-written and re-published (the previous article) without offering any new information or evidence.”

The International Petroleum Investment Company (IPIC) has since reaffirmed its commitment to working with 1MDB via a public statement issued in October 2015, and made interest payments on 1MDB bonds in October and November 2015, added the statement.

IPIC and 1MDB, said the statement, “continue to enjoy a strong business relationship”.

“This was reflected in the execution of a binding term sheet that saw IPIC assume obligation for a USD3.5 billion bond principal and interest, currently held by 1MDB, and followed a USD1 billion cash payment made by IPIC to 1MDB in June 2015.”

The timing of the latest WSJ article, continued the statement, also raises questions, “coming as it does at a time when 1MDB has made significant progress with its rationalisation process, as reflected in the successful execution of a Share Sale and Purchase Agreement with the CGN Group, and the impending selection of a preferred development partner for its Bandar Malaysia project.”

1MDB charged that the WSJ continues its campaign to malign 1MDB, a campaign based on old and recycled allegations which were first published by an online blog. “The blog, it’s now known, to be working hand in glove with certain political interests in Malaysia.”