1MDB response to Tun Dr. Mahathir Mohamad

1MDB refers to a blog posting by Tun Dr. Mahathir Mohamad dated 29 June 2015.

Despite clarifications from 1MDB, despite both KPMG and Deloitte standing behind their audits at recent PAC hearings, and despite the ongoing enquiries into this matter by the lawful authorities, Tun Mahathir continues to repeat the same questions and falsely claims that 1MDB funds are “lost” or “unaccounted for”, without providing any shred of evidence. 1MDB has now issued a response to Tun Mahathir, which follows two statements issued on 16 June 2015, answering these very same questions that have been repeated yet again by Tun Mahathir.

Such allegations and misleading statements by Tun Mahathir and certain opposition politicians, significantly impacts the ability of 1MDB, a 100% government owned company, to conduct its ongoing business and causes damage to the wider economy. Furthermore, such allegations negatively impact the implementation of the 1MDB rationalisation plan announced on 29 May 2015, which is intended to reduce the company’s debt levels and ensure that maximum value is generated for our 100% ultimate shareholder, the Government of Malaysia.

1MDB is the subject of ongoing enquiries by the Public Accounts Committee (PAC) – a bi-partisan committee of Parliament. The PAC is a lawful authority to verify whether RM42 billion has ‘disappeared’ from 1MDB, as they have access to all information. 1MDB trusts that the honourable members of the PAC will specifically look into this allegation and provide their judgement to conclusively resolve this matter.

1MDB remains committed to implementing the rationalisation plan, and reaffirms our previously stated position that if any wrongdoing is found, then action must be taken by the lawful authorities, per due process and the laws of our country.