1MDB: Dr M resorting to recycled claims

(Malay Mail Online) – 1Malaysia Development Bhd (1MDB) has categorised Tun Dr Mahathir Mohamad’s latest salvo against it as “recycled allegations”, insisting that it has previously addressed the issues raised.

In particular, it said it had provided a detailed explanation of its dealings with PetroSaudi International when responding to the former prime minister in June, after Dr Mahathir today again raised the issue of 1MDB’s abortive 2009 joint venture with the Middle Eastern firm.

“These recycled allegations not only cast aspersions on 1MDB but also impacts the day-to-day operations of the company.

“1MDB have repeatedly responded to these unfounded allegations by Tun Mahathir as evidenced in our statements on 10, 16, 18 and 30 June 2015,” it said in a statement today.

The firm then said it remained committed to the rationalisation plan intended to pare down its RM42 billion in liabilities.

In a blog post this morning, Dr Mahathir blamed Putrajaya’s handling of 1MDB for turning Malaysia into an embarrassment.

The former prime minister also chronicled issues with 1MDB that he said led to his suspicions of the state-owned firm, including the PetroSaudi deal, its purchase of energy assets both at home and abroad, and allegations it overpaid for commissions to raise bonds.