Ahead of PAC probe, 1MDB says will snub press queries

(Malay Mail Online) – 1 Malaysia Development Bhd’s (1MDB) board said today that it will not partake in a “trial by media” and will only reply questions by regulatory authorities and investigators probing the debt-laden state-owned fund.

The 1MDB board of directors accused the media of attempting to shape public opinion – through “biased” reporting, a selective presentation of facts and the lack of supporting evidence – before the Auditor-General and Parliament’s Public Accounts Committee (PAC) complete their respective investigations on the state-owned firm and its reported RM42 billion in debt.

“The search for truth must be fact-based and conducted by trustworthy, unbiased and impartial parties,” the 1MDB board said in a statement.

“A ‘trial by media’ is of no benefit to any party who is genuinely interested in the truth. Accordingly, the Board will fully co-operate with and will only reply to questions posed by the bipartisan PAC, the Auditor-General and relevant regulatory authorities,” they added.

1MDB’s criticism of the media follows Prime Minister Datuk Seri Najib Razak’s comments yesterday that hit out at news portals and online blogs over the controversy, accusing the alternative media of having “hidden agendas”.

PAC is set to question top officials from the Treasury and the Economic Planning Unit under the Prime Minister’s Department tomorrow.

Najib has said 1MDB’s RM42 billion is not unaccounted for, claiming that the money is locked in with the value of two major development projects – the Tun Razak Exchange and the planned Bandar Malaysia in Sungai Besi – spearheaded by the state-owned fund.