1MDB questions Pua’s credentials after MP claims of doctored info
(Malay Mail Online) – 1Malaysia Development Bhd (1MDB) today cast doubt over Tony Pua’s claim that the firm falsified information to secure a loan, pointing out that that the DAP MP lacked the expertise to arrive at the conclusion.
The state-owned firm being investigated by several federal agencies also noted that the confidentiality of financial agreements such as that cited by Pua were protected by law.
“It is unclear to 1MDB on what basis YB Tony Pua, a third party who is not a banker to 1MDB — nor privy to the company’s internal dealings — is making such unsubstantiated and damaging allegations against 1MDB.
“We note that YB Tony Pua has declined to elaborate further on the ‘valid reasons’ behind his statements. In any event, interaction between 1MDB and its bankers, including confidentiality obligations, are governed by contract and national law,” it said in a statement today.
The indebted firm also challenged the assertion that the alleged use of tampered financial statements could cause lenders to declare 1MDB to be in default, an event that could jeopardise the rest of its RM42 billion in liabilities.
1MDB further said that claims such as those made by Pua adversely affected both the conduct of the firm’s daily affairs and the ongoing “rationalisation plan” to reduce its debt burden.
This morning, Pua accused 1MDB of tampering with its audited March 2014 financial statements that was given to a consortium of local banks in relation to a US$1.22 billion (RM4.03 billion) loan it took.
He said he based his allegation on a copy of 1MDB’s audited accounts obtained from the Companies Commission of Malaysia, but declined to provide evidence of his claims and said he wanted Bank Negara Malaysia to disprove his accusation.
The Petaling Jaya Utara MP is part of the Public Accounts Committee (PAC) that is investigating 1MDB.
Aside from the PAC, the state-owned firm is also under investigation by the Auditor-General, the Attorney-General’s Chambers, Bank Negara Malaysia, the Royal Malaysian Police and the Malaysian Anti-Corruption Commission.
