1MDB questions intent behind ‘recycled’ WSJ report

(Malay Mail Online) – 1Malaysia Development Bhd (1MDB) today suggested ulterior motives in the Wall Street Journal’s (WSJ) coverage of the state-owned firm, after the US news outlet published a recap of its previous reports on missing funds at the Malaysian firm.

The firm accused the WSJ of recycling its allegations that at least US$700 million (RM3 billion) was missing from 1MDB, pointing out that the same claim was made in a report by the US national daily earlier this year.

“The fact is that there is no real news in this article. For reasons best known to its management, the WSJ appears happy to have become a noticeboard for conspiracy theories and smears propagated by the Malaysian opposition. This is a sad state of affairs for its readers, who deserve better,” it said in a statement today.

It said that the US newspaper must know that the claims it made were currently under investigation by different agencies in Malaysia, and pointed out that the WSJ conceded that it did not have evidence of any crime.

“We are, therefore, perplexed as to why the WSJ continues with this campaign to undermine 1MDB, and Malaysia, and urge it to focus on real news instead,” 1MDB said.

The WSJ today published a report titled “1MDB and the Money Network of Malaysian Politics” in which it revisits allegations that at least US$700 million was missing from the Malaysian firm, juxtaposed against reports that a comparable sum had been deposited in Prime Minister Datuk Seri Najib Razak’s accounts.

The WSJ was also the source of news that RM2.6 billion had been deposited in Najib’s accounts ahead of Election 2013, although the amount has been categorised as a political donation from unnamed donors in the Middle East.