AG denies Sarawak Report allegation: Court proceedings against IPIC not halted

(FMT) – The attorney-general has denied reports that the government has halted court proceedings in London against Abu Dhabi’s International Petroleum Investment Company (IPIC).

This comes in the wake of a report by The Sarawak Report that Putrajaya has put legal action against IPIC over a US$5.87 billion (RM24.8 billion) settlement dispute on hold in favour of a negotiated deal.

“The government is always open to considering any resolution if there is an offer in line with the government’s principles and responsibilities, which is to ensure national assets are returned and justice is upheld,” Attorney-General Idrus Harun said.

In line with this, Idrus said discussions were constantly being held between the Malaysian and United Arab Emirates governments.

This, he added, had been the case with the previous and current administrations in Putrajaya.

“These discussions involve only government officials and no other parties.”

Yesterday, Damansara MP Tony Pua called on the Perikatan Nasional-led government to clarify Sarawak Report’s claim that it was dropping a case filed by the previous government against IPIC.

In 2018, the Pakatan Harapan administration filed a suit in London against IPIC to challenge its settlement with 1MDB as it was allegedly part of a cover-up related to the 1MDB scandal.

The government through its legal action in London is seeking to recover US$3.5 billion (RM14.6 billion) in 1MDB funds paid out to IPIC subsidiaries.