KUALA LUMPUR, Oct 28 – Prime Minister Datuk Seri Najib Tun Razak who is also Finance Minister refuted the allegation on Tuesday that 1Malaysia Development Berhad (1MDB) was still owed Abu Dhabi’s International Petroleum Investment Corporation (IPIC) US$481 million.
Najib said according to 1MDB’s financial statement ended March 31, 2014, there was no such amount allegedly owed by government’s strategic investment company. He said the notes in the 1MDB’s financial statement for the year ended March 31, 2014 clearly stated that there was no such amount borne by 1MDB from IPIC.
He said it is also stressed that any quarters have the right to determine the reporting method for their financial statements. He said this in a written reply to Tony Pua. Pua had wanted to know the amount of payment made by 1MDB to buy back options in Powertek Investment and 1MDB Energy (Langat) from Aabar Investment. Pua also asked the government to explain whether 1MDB still owed US$481 million as stated in the IPIC’s Audit Report for December 2014.
