Pua writes to UK on 1MDB’s ‘missing’ USD1.4b
The MP looks forward to the International Petroleum Investment Corporation (IPIC) providing a full public disclosure to be published on the website of the London Stock Exchange.
(Free Malaysia Today) – Petaling Jaya Utara MP Tony Pua has disclosed that he has sent a letter to the United Kingdom Listing Authority (UKLA) requesting it to seek clarification from International Petroleum Investment Corporation (IPIC) on USD1.4 billion missing from its financial statements.
“I have decided to write the letter because it appears that the financially distressed 1Malaysia Development Bhd (1MDB) was not at all concerned that its USD1.4 billion pledged as collateral with IPIC in exchange for a USD3.5 billion guarantee was reportedly missing,” said Pua who is also DAP National Publicity Secretary.
“This matter was exposed by the Wall Street Journal last week but was met with disdain from 1MDB. The company was more interested in victimizing the mystery whistleblowers than discovering the truth behind its funds.”
His letter, according to Pua, expressed the concern of Malaysian taxpayers over the missing funds belonging to the wholly-owned Ministry of Finance subsidiary. “It is important for IPIC to make a public disclosure with regards to the USD1.4 billion to provide 1MDB and its stakeholders the assurance that our interests are fully protected.”
The UKLA should give due consideration to the request for clarification, said Pua. “We look forward to IPIC providing a full public disclosure to be published on the website of the London Stock Exchange.”
Pua said that he explained to the UKLA that the financial statements of 1MDB audited by Deloitte Malaysia stated clearly that the Company placed USD1.4 billion of funds with IPIC as a “refundable deposit”. “It is classified as a non-current asset, under ‘other receivables, deposits and prepayments’.”
