1Malaysia Development Bhd (1MDB) says a recent article published by the Wall Street Journal contained “old and recycled” allegations against the company.
“The allegations are simply a regurgitation of old claims carried by the Wall Street Journal (WSJ) in September, which it has re-written and re-published without offering any new information or evidence,” the firm said in a statement yesterday.
“It is interesting that Opposition leaders and certain publications re-published and commented on this latest article barely minutes after it was published, raising questions as to whether this is part of a broader orchestrated campaign against 1MDB.”
1MDB raised doubts over the article being published at a time when the firm was making progress with its rationalisation process, with a successful Share Sale and Purchase Agreement with CGN Group, and the impending selection of a preferred development partner for its Bandar Malaysia project.
“With respect to 1MDB’s past dealings with International Petroleum Investment Company (IPIC), the two companies continue to enjoy a strong business relationship,” the statement read.
“This was reflected in the execution of a binding term sheet that saw IPIC assume obligation for a US$3.5bil (RM15.05bil) bond principal and interest, currently held by 1MDB, and followed a US$1bil (RM4.3bil) cash payment made by IPIC to 1MDB in June 2015.”
1MDB said that IPIC had reaffirmed its commitment to partnering with the company via a statement in October, and had made interest payments on the bonds in October and November.
The Star (18 December 2015)